Japan Finance Minister Shunichi Suzuki declined to confirm if there was intervention in the currency markets last Friday. But he reiterated, “we cannot tolerate excessive volatility caused by speculative moves, and we are ready to take necessary steps when needed…. we are in a situation where we are confronting speculative moves strictly.”
Masato Kanda, Vice Finance Minister for International Affairs also said, “we won’t comment” on whether Japan will intervene gain. He said, “we will take appropriate steps against excessive volatility 24 hours a day, 365 days a year.”
Chief Cabinet Secretary Hirokazu Matsuno also said, “we refrain from commenting specifically on any currency intervention”.
