Japan’s Top FX Diplomat Kanda: To take appropriate action when needed in forex market

Japan's top currency diplomat Masato Kanda said on Monday that it “will take appropriate action when needed in the forex market.“

Key quotes

Interest rate is merely one factor in forex.

Yen still perceived as safe asset along with Swiss Franc, US Dollar.

Cannot foresee impact from crisis in middle east on Japanese economy.

Market reaction

USD/JPY is keeping its range play intact at around 149.50 on the above comments. The pair is modestly flat on the day.