Japan is "on standby" to take all possible steps to counter excessive volatility in the currency market, its top currency diplomat said Wednesday, expressing concern over rapid yen movements as the currency fell to a one-year low against the U.S. dollar.
The latest verbal warning by Masato Kanda, vice finance minister for international affairs, came as yen selling accelerated after the Bank of Japan loosened its grip on long-term government bond yields but maintained monetary easing on Tuesday.
