Japan’s Kato: Will take appropriate action against excessive moves

Japan’s Finance Minister Katsunobu Kato on Tuesday that his government “will take appropriate action against excessive moves.”

Additional quotes

Won't comment on forex levels.

Recently seeing one-sided, rapid moves.

Important for currencies to move in a stable manner reflecting fundamentals.

Alarmed over FX moves, including those driven by speculators.

Market reaction

USD/JPY is retreating from multi-month high of 158.42 following these above comments, trading 0.40% higher on the day at 158.22 at press time.