Japan’s Top FX Diplomat Kanda: Excess volatility in currency rates undesirable

A top currency diplomat from the Japanese Finance Minister, Masato Kanda, said on Tuesday, “Excess volatility and disorderly fx moves could hurt economic, financial stability.”

Additional quotes

Discussed financial market developments including dollar-yen moves in meeting with the US treasury's acting under secretary.

We underscored importance of maintaining previous G7 and G20 commitment on exchange rates.

Japan and the US confirmed that MOF and US treasury will have close communications on currency issues.

We exchanged views on sanctions vs. Russia, agreed to work closely to implement G7 leaders commitments to impose severe consequences on Russia for invasion.

Fx stability important.

Excess fx volatility, disorderly moves undesirable.

Excess volatility, disorderly fx moves could hurt economic, financial stability.

Excess volatility in currency rates undesirable.

Will liaise with us and other countries in responding to fx moves.