Kanda Warns Against Excessive Yen Moves, Seeks Stable Exchange Rates

Japan's vice finance minister for international affairs, Masato Kanda, has issued a warning against excessive yen moves. He stated that it is 'desirable for exchange rates to move stably reflecting fundamentals.'

Kanda's comments come after the yen declined to levels seen by traders as heightening the chance of currency intervention. The warning likely reflects Tokyo's desire to prevent further falls in the yen, which would hurt households and retailers by boosting the cost of importing raw materials.