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Japan warns of action due to rapid currency movements

Japan may have to take action against disorderly, speculatively driven currency movements, the government’s top currency diplomat Masato Kanda said on Tuesday. In doing so, he reinforced Tokyo’s willingness to intervene again to support a fragile yen.

“It is preferable for exchange rates to remain stable based on fundamentals, and if the market functions healthily in this way, there is obviously no need for the government to intervene,” said Kanda, Japan’s Vice Finance Minister for International Affairs. , told reporters.

“However, if there are excessive fluctuations or disorderly movements due to speculation, the market will not function and the government may have to take appropriate measures. We will continue to take the same firm approach as in the past.”

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