Japan's finance minister vows to closely watch FX moves
Adds detail, comments on economic package in paragraphs 4-5
TOKYO, Oct 29 (Reuters) -Japan's Finance Minister Katsunobu Kato reiterated on Tuesday that the authorities would be vigilant to foreign exchange moves, including those driven by speculators.
"We will continue to closely monitor foreign exchange moves, including those driven by speculators, with a higher sense of vigilance," Kato told a regular news conference.
The yen is languishing at three-month lows as the loss of Japan's ruling bloc's parliamentary majority has raised expectations that the political turmoil could make it harder for the Bank of Japan to wean the economy off decades of monetary stimulus.
The election results also heightened prospects that a new government will need to seek support from smaller opposition parties and ramp up spending to win public support.
"We plan to compile a meaningful economic package and supplementary budget by taking in policies from parties outside (the coalition bloc)," Kato said.
Reporting by Makiko Yamazaki; Editing by Jacqueline Wong
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
