Japan's Finance Minister Katsunobu Kato said on Friday that he is concerned about the recent foreign exchange move, including those driven by speculation. Kato added that he will ake appropriate action against excessive moves. Key quotes Sees stable FX movement as desirable, reflecting fundamentals. Sees abrupt, unilateral movements in foreign exchange market. To take appropriate action against excessive market movements. Expresses serious concern over currency fluctuations.
The BoJ ultra-loose monetary policy between 2013 and 2024 caused the Yen to depreciate against its main currency peers due to an increasing policy divergence between the Bank of Japan and other main central banks. More recently, the gradually unwinding of this ultra-loose policy has given some support to the Yen.
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