Japan’s Top FX Diplomat Kanda: Will respond appropriately if weak Yen turns excessive

Japan's top currency diplomat Masato Kanda warned against the Japanese Yen's ongoing weakness on Wednesday.

Key quotes

"We are closely watching currency moves with a strong sense of urgency.”

"We will respond appropriately if it becomes excessive."

Kanda's comments came after the Yen slumped to a fresh seven-month trough to 144.21 against US Dollar overnight.

Market reaction

At the time of writing, USD/JPY is trading at 143.90, down 0.09% on the day.