Japan top FX diplomat says watching for any build-up of yen carry trades, NHK reports
TOKYO - Japan's top currency diplomat Atsushi Mimura said authorities are"always watching markets" as a renewed build-up of yen carry trades could heighten market volatility, public broadcaster NHK quoted him as saying in an interview that ran on Friday.
"But if such moves increase again, that could heighten market volatility. We are always watching markets to ensure that does not happen," Mimura was quoted as saying. In July, Mimura took over as vice finance minister for international affairs, a role that oversees Japan's currency policy, succeeding Masato Kanda.
The vast unwinding of such trades, caused in part by the BOJ's decision on July 31 to raise short-term interest rates, have recently led to a sharp rebound in the yen.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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