Japan's Currency Concerns Amid Market Speculation

Japan's top currency diplomat, Masato Kanda, commented on Thursday that he could not confirm whether market intervention had occurred. This followed a significant 2.5% drop in the dollar against the yen attributable to lower-than-expected U.S. CPI data. Kanda noted that recent foreign exchange movements have been substantial and speculative.

Japan's top currency diplomat, Masato Kanda, stated on Thursday that he could not comment on whether authorities had intervened in the market, according to Jiji Press.

The remarks followed a notable 2.5% decline in the dollar against the yen after the U.S. CPI data came in weaker than anticipated.

Kanda highlighted that foreign exchange movements since the start of the year have been considerable, affecting households and creating a market dominated by speculation.

(With inputs from agencies.)