Japanese Prime Minister Fumio Kishida said this morning that he will take appropriate action if there are excessive movements in the currency market, and also stated that they will use all available methods to respond to excessive forex movements.
He also said that it is desirable for the forex market to move steadily reflecting the fundamentals, however, volatile movements are not favorable.
Currency control is not an objective of the Bank of Japan's monetary policy, but he noted that such chaotic moves could affect Japan's economic and financial stability.
In the same context, the governor of the Bank of Japan, Ueda, said that the Bank of Japan does not directly target the foreign exchange market to guide monetary policy, stressing that the market is one of the main factors affecting the development of economic prices.
The importance of movements in the foreign exchange market will make the government work closely with the Bank of Japan،
He noted that speculation over monetary policy shifts "at home and abroad" affects FX moves.
