Japan stands ready to take all possible measures to counter excessively volatile currency moves, Chief Cabinet Secretary Yoshimasa Hayashi said on Tuesday, keeping markets on alert over the chance of renewed intervention to prop up the yen.
Bank of Japan data released on Tuesday suggested Tokyo may have spent ¥2.14 trillion ($13.5 billion) intervening on Friday last week. Combined with the estimated amount spent on Thursday, Japan is suspected to have bought nearly ¥6 trillion via intervention last week.
"It is important for currency rates to move stably reflecting fundamentals. Excessive volatility is undesirable," Hayashi told a regular news conference before the release of the BOJ data.