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Top related persons:
Kim Kyung - 1 Naoyuki Shinohara - 1 Shinohara - 1 Masato Kanda - 1 Leika Kihara - 1 Kim Coghill - 1
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Tokyo Japan TOKYO Asia
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National Printing Bureau - 1 Bank of Japan - 1 REUTERS - 1 International Monetary Fund - 1 Thomson - 1

Search resuls for: "Naoyuki Shinohara"


3 mentions found


☆ Japan likely won't intervene to reverse yen downtrend, ex-top currency diplomat says
  + stars: | 2023-10-08 | by ( Leika Kihara | ) www.reuters.com   time to read: +3 min
There is no set rule or shared agreement among G7 advanced nations on what kind of currency moves are defined as "excess volatility" that justify intervention, Shinohara said. "But usually, when you talk about excess volatility you have in mind a timeframe of several days or weeks," rather than several months, he said in an interview on Friday. The remarks contrast with those of incumbent top currency diplomat Masato Kanda, who said on Wednesday that steady yen falls over a protracted period could also warrant intervention. G7 and G20 major economies have a shared understanding that currency moves ought to reflect economic fundamentals, and that excess volatility was undesirable. In Japan, the finance ministry has jurisdiction over currency policy and decides whether and when to intervene.
Persons: Kim Kyung, Naoyuki Shinohara, Shinohara, Masato Kanda, Leika Kihara, Kim Coghill Organizations: National Printing Bureau, Bank of Japan, REUTERS, Reuters, International Monetary Fund, Thomson Locations: Tokyo, Japan, TOKYO, Asia
☆ Japan warns against speculative yen moves, markets wary of further intervention
  + stars: | 2022-09-26 | by ( Tetsushi Kajimoto Leika Kihara | Tetsushi Kajimoto | Leika Kihara | ) www.reuters.com   time to read: +5 min
"We are deeply concerned about recent rapid and one-sided market moves driven in part by speculative trading," Suzuki told the news conference. The remarks came after the government's decision on Thursday to intervene in the currency market to stem yen weakness by selling dollars and buying yen for the first time since 1998. read moreKuroda said the government's intervention was an appropriate move to deal with "rapid, one-sided" yen moves. "Monetary policy and currency policy have different goals and effects," he said. "It was a meaningful move that showed Japan's determination it won't leave unattended sharp market volatility," he said.
☆ Japan won't intervene to defend 145 yen line-in-the-sand, ex-top foreign-exchange diplomat says
  + stars: | 2022-09-26 | by ( Leika Kihara | ) www.reuters.com   time to read: +3 min
REUTERS/Florence Lo/IllustrationTOKYO, Sept 26 (Reuters) - Japan likely won't intervene in the currency market to defend a line-in-the-sand such as 145 yen versus the dollar, and instead limit any further action to smoothing operations aimed at taming volatility, former top currency diplomat Naoyuki Shinohara said. After the dollar's spike to near 146 yen, Japan intervened in the currency market on Thursday to buy yen for the first time since 1998. The dollar slid to near 140 yen shortly after Thursday's intervention, but bounced back above 143 yen by Friday. Tokyo's intervention came shortly after the yen's dive triggered by the BOJ's decision to keep ultra-low rates, and governor Haruhiko Kuroda's post-meeting comments that rates likely won't rise for several more years. The yen's downtrend will be hard to reverse as long as the BOJ maintains ultra-low rates, Shinohara said.
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