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

Japanese Finance Minister Katsunobu Kato said on Monday, he “will take appropriate action against excessive moves.”

It is “important for currencies to move in stable manner reflecting fundamentals,” he added.

Market reaction

USD/JPY is off the highs, still holding decent gains following these comments. The pair is up 0.31% on the day to trade near 149.80, as of writing.