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Japan FX tsar Kanda says speculation behind weak yen, ready to take action
Japan's top currency diplomat on Monday warned against speculators trying to sell off the yen, saying its weakness did not reflect fundamentals, in the latest warning about the currency's "big slide" against the dollar. Masato Kanda, the vice finance minister for international affairs, made the comment at an ad hoc news conference as the Japanese currency hovered close to a 32-year low near 152 to the dollar. "Looking at currencies, the dollar/yen pair has gone through big fluctuations of 4 per cent over only the past two weeks," Kanda told reporters. "It has not reflected fundamentals and I feel something strange ... (full story)
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Trading is gambling. So gamble responsibly.
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