Yellen respects Japan’s decision not to disclose any fx intervention -MOF’s Kanda
2022.10.25 19:42
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© Reuters. FILE PHOTO: U.S. Treasury Secretary Janet Yellen participates in a discussion at the annual Freedman’s Bank Forum at the Treasury Department in Washington, U.S., October 4, 2022. REUTERS/Michael A. McCoy
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TOKYO (Reuters) – U.S. Treasury Secretary Janet Yellen respects Japan’s stance of not disclosing whether it had intervened in the foreign exchange market, Japan’s top currency diplomat said on Wednesday, adding he was in close touch with the United States every day.
“We will monitor the market to see if there are any excessive, disorderly moves and will continue to take decisive steps as needed,” Vice Finance Minister of International Affairs Masato Kanda told reporters at the ministry.
Since the Sept. 22 yen-buying intervention, Japanese authorities have kept mum on whether they had entered the currency market, although sources have said stealth intervention was conducted last Friday and this Monday.
Japan likely spend as much as 9.2 trillion yen ($62 billion) in total since last month to prop up its currency, according to market estimates.
On Wednesday morning, the dollar was broadly weaker amid signs that Federal Reserve rate hikes are slowing the U.S. economy. The greenback hit a 32-year high against the yen of 151.94 on Friday.
($1 = 148.0300 yen)
