RIO DE JANEIRO (Reuters) -Japan has warned of the need to be increasingly vigilant to excessive foreign exchange fluctuations driven by speculation at a Group of 20 meeting, top currency diplomat Masato Kanda said on Thursday.
“Japan has said we must respond appropriately based on G20 comittments that excessive currency volatility has a negative impact on the economy and financial stability,” Kanda said.
He made the comments during a press conference at the G20 finance ministers and central bank governors meeting in Rio de Janeiro, Brazil.
The Japanese yen rallied for a fourth session against the dollar on Thursday, hitting the highest in more than two months, as investors unwound their long-running bets against the currency ahead of a Bank of Japan meeting next week.
(Reporting by Makiko Yamazaki; Editing by Jacqueline Wong)
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