Japan finance minister Kato: Will take appropriate action versus excessive FX moves https://t.co/jOlPuETwfF
JAPAN FINANCE MINISTER KATO: WILL TAKE APPROPRIATE ACTION VS EXCESSIVE FX MOVES - RTRS -SIDED, SHARP MOVES SEEN IN FX MARKET IMPORTANT FOR FX RATES TO MOVE STABLY REFLECTING FUNDAMENTALS GOVT WILL SCRUTINISE FX MARKET WITH VERY HIGH VIGILANCE INCLUDING SPECULATIVE MOVES
US TREASURY: JAPAN INTERVENED IN CURRENCY MARKETS ON APRIL 29, MAY 1, AND JULY 11-12, 2024 TO SELL DOLLARS AND STRENGTHEN YEN'S VALUE.
South Korea's finance minister announced plans to enhance measures aimed at stabilizing the financial markets amid rising volatility. The government will actively respond to fluctuations in the foreign exchange (FX) market, according to the minister's statements reported by Yonhap. Concurrently, Japan's finance minister, Shunichi Kato, indicated that Japan will also take necessary actions to counter excessive movements in the FX market. Kato emphasized the importance of stable currency rates that reflect economic fundamentals and noted that the government will monitor the FX market closely to guard against speculative activities.