Japan will ‘most definitely’ intervene on yen if needed, says top currency diplomat

Japan has not yet intervened in the foreign exchange market but will “most certainly” do so if necessary, the country’s top monetary diplomat, Masato Kanda, said Thursday.

“The markets are making very volatile moves,” Kanda, deputy finance minister for international affairs, told reporters. “We cannot tolerate excessive volatility and disorderly currency movements,” he said when asked about the yen’s recent plunge to fresh 24-year lows.

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