Japan PM Kishida: Excess FX volatility based on speculation cannot be tolerated

Japanese Prime Minister Kishida warned on Wednesday that “excess FX volatility based on speculation cannot be tolerated.”

Additional quotes

“No comment on FX.”

“Need to take appropriate action against excess forex move.”

Market reaction

Kishida’s comments come as USD/JPY is gradually closing in on the 150.00 mark, trading at the highest level since the 1990s, at the time of writing.