No limit for reserves in currency intervention, Japan top FX diplomat says

TOKYO – Japan’s top currency diplomat Masato Kanda said on Thursday that comments about the country’s limitations in currency reserves for foreign exchange market intervention are “completely wrong,” reiterating a warning that Tokyo is ready to take actions.

Kanda, Japan’s vice minister of finance for international affairs, also said the government would not make comments about whether it intervened in the foreign exchange market, when asked about a TV Tokyo report that it did citing a government official.

Tokyo is suspected to have intervened on at least two days last week to support the yen after it tumbled to lows last seen more than a decade ago.

(Reporting by Satoshi Sugiyama; Editing by Himani Sarkar and Stephen Coates)