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Kanda Refuses To Confirm If Japan Intervened In FX Markets

JPY

Comments have crossed the wires (BBG & RTRS) from Japan's top currency diplomat Kanda. He declined to confirm whether the authorities intervened in FX markets. This follows the sharp USD/JPY drop during Tuesday NY trade, which came after the pair spiked above 150.00.

  • Kanda added that the authorities stance on excessive moves hasn't changed, but wouldn't confirm whether yesterday's move was deemed excessive (RTRS). Implied volatility, one-sided, excessive moves, are among the factors that are looked at when deciding whether moves are excessive or not (RTRS).
  • Again, Kanda stated that no options will be ruled in terms of FX markets.
  • USD/JPY is a touch firmer in recent dealings, last in the 149.10/15 region. We opened closer to 149.00.
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