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Japanese Ministry of Finance officials: Be prepared for round-the-clock intervention in forex
Kins data, June 24th, the Japanese Ministry of Finance Vice Minister Kanda Masato said, if necessary, the Japanese authorities are ready to intervene in the currency market 24 hours a day. Kanda Masato said that the decision of the United States to include Japan on its currency watchlist has no impact on Japan's currency strategy. Kanda said, "If the exchange rate fluctuates excessively, it will have a negative impact on the national economy." When Kanda made these remarks, the US-Japan exchange rate was not far from the 160 mark, close to the 34-year low of 160.17 set on April 29. The Japanese authorities conducted record interventions at the end of April and the beginning of May to support the yen. Kanda said that the Ministry of Finance has no specific level in mind for exchange rate action.