"Japan's Currency Chief Urges Vigilance Against Speculative FX Moves"
Japan's Finance Ministry's Vice Finance Minister for International Affairs Kanda stated that they are closely monitoring FX moves with a high sense of urgency and will take appropriate steps to respond to excessive weakness of the yen, which he attributes to speculation rather than reflecting fundamentals. Kanda emphasized the negative impact of speculative yen weakness on the economy and expressed readiness to make comprehensive decisions based on excessive moves rather than specific forex levels. He also welcomed the Bank of Japan's decision to end unconventional easy steps and highlighted the widened long-term interest rate differentials between Japan and the US.