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Japan Vice-Finance Minister for International Affairs, Masatsugu Asakawa said that the US Treasury's recent report on currencies would not restrict Japan's foreign-exchange policy, reflecting that the report will not have any immediate impact on Japan’s current currency policy. However, excess volatility in FX market may have adverse effects on economy, Reuters reported.
The comments from the country's top currency diplomat confirm the Japanese government’s commitment to intervene if the rise in yen becomes too excessive, reports confirmed.
The Japanese currency market will remain heated until the possibility becomes a reality and USDJPY dipping again to 108.70 after failing to breach 109.00 and Nikkei turns lower.
"We will not be bound by the US Treasury report," Asakawa said in an interview to Reuters.
