Japan’s Top FX Diplomat Kanda: We are always ready to take necessary steps against excess FX volatility

As USD/JPY gyrates near the pre-intervention levels of 145.90 this Tuesday, Japan’s top currency diplomat Masato Kanda came out with a bit of a jawboning.

Kanda said that “we are always ready to take necessary steps against excess FX volatility.”

“i can make a decision on fx intervention anywhere, even from an airplaine,” he added.

Market reaction

USD/JPY is trading modestly flat on the day at around 145.70, with 20 pips away from the critical level.