Japan’s Kanda says told G20 that excessive FX volatility has negative impact on economy

Kanda is in Brazil for the meeting of central bankers and finance ministers from Group of 20 nations.

• says told G20 that excessive FX volatility has negative impact on economy
• chance of a soft landing for the global economy increasing

• told G20 need to respond appropriately in markets based on group’s fx
  agreement
• told G20 must be
  increasingly vigilant to excessive, speculative fx fluctuation

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Japan’s Finance Ministry’s Vice Finance Minister for International Affairs Kanda. He is the official who will instruct the BOJ to intervene, when he judges it necessary. Often referred to as Japan’s ‘top currency diplomat’.

Atsushi Mimura takes over from Kanda on July 31, following the meeting of the Group of 20 finance ministers and central bank governors in Rio de Janeiro from July 25.

This article was written by Eamonn Sheridan at www.forexlive.com.