Japan's yen intervention guy says will respond if FX moves become excessive – verbal.

<p>Japan's Finance Ministry's Vice Finance Minister for International Affairs Kanda. He is the guy (its normally a guy, yeah) who will instruct the BOJ to intervene, when he judges it necessary. Often referred to as Japan's 'top currency diplomat'.</p><ul><li>Will respond to FX moves if moves become excessive</li><li>FX should move stably reflecting fundamentals</li><li>Will not rule out any options (KAnda was asked about intervention) </li><li>we are focusing on FX moves rather than levels</li></ul><p>—</p><p>On that last comments, it's the pace of moves that seems to concern Japanese authorities – i.e. how quickly yen depreciates. A sharp rapid move will bring about a response from authorities which, so far, have been only verbal internvaiuont not actual yen buying intervention. </p><p>As for actual yen buying intervention, it'll be preceded by more pointed comments. I have a guide here:</p><ul><li><a href="https://www.forexlive.com/centralbank/the-4-phrases-from-japanese-officials-to-listen-for-signalling-imminent-yen-intervention-20230606/" rel="follow">The 4 phrases from Japanese officials to listen for signalling imminent yen intervention</a></li></ul><p>—</p><p>More from Kanda:</p><ul><li>recent FX moves are rapid</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.