Japan finance minister says recent FX intervention aimed to correct distortion caused by speculation

09/29/2022 | 08:27am

TOKYO (Reuters) - Japan's recent currency intervention was conducted to rectify market distortion caused by speculative moves in the currency market, Finance Minister Shunichi Suzuki said on Thursday.

Speaking to reporters on the sidelines of the Asian Development Bank's annual meeting in Manila, Suzuki said currencies should be set by the market, but sharp and one-sided moves were undesirable.

(Reporting by Tetsushi Kajimoto; Editing by Raissa Kasolowsky)

Reuters 2022
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