Home Forex Japan asks X to take down pretend account of prime FX diplomat as yen weakens By Reuters

Japan asks X to take down pretend account of prime FX diplomat as yen weakens By Reuters

Japan asks X to take down pretend account of prime FX diplomat as yen weakens By Reuters


© Reuters. FILE PHOTO: ‘X’ brand is seen on the highest of the headquarters of the messaging platform X, previously often called Twitter, in downtown San Francisco, California, U.S., July 30, 2023. REUTERS/Carlos Barria/File Picture

TOKYO (Reuters) – Japan’s Ministry of Finance (MOF) warned on Thursday of a pretend account for its prime forex diplomat Masato Kanda on social media X, previously often called Twitter, because the market fears a forex intervention amid the yen’s drop to a one-month-low.

In a uncommon English-language submit on X, the ministry stated “Please do not observe the impersonation account and/or touch upon the submit”, saying such an X account purportedly belonging to Kanda or his workers didn’t exist.

“MOF is presently requesting that X (previously Twitter) suspends the impersonation account. Thanks to your cooperation” it stated, in its official account . The social media platform suspended the pretend account inside hours.

The account, below the identify “Masato Kanda” and the person ID “@Jgghkj_”, appeared to have been created in March and made solely 5 posts to this point, together with three footage of Kanda posted on March 1. The most recent submit, made at 3:56 pm (0656 GMT), appeared to have impersonated Kanda’s latest journey to Ukraine.

Kanda was in Ukraine on Wednesday to elucidate Japan’s help for the nation, the MOF had introduced.

The pretend account, which was following about 5,000 customers and was adopted by little greater than 550, had made no remarks concerning the yen or monetary markets.

Kanda, Japan’s vice-minister of finance for worldwide affairs, has been the central determine within the nation’s efforts to stem the sharp decline of its yen forex since final 12 months, supervising report yen-buying, dollar-selling operations late final 12 months.

Previous to the Financial institution of Japan’s newest July 27-28 coverage assembly, Kanda, in an uncommon transfer, referred to market hypothesis a couple of potential tweak to financial coverage, along with warning the market that authorities will contemplate all choices to take care of the yen’s extra volatility.

The BOJ stunned markets with a tweak to its bond yield management programme final week, permitting rates of interest to rise extra freely.

The yen weakened on Thursday to hit 143.89 in opposition to U.S. greenback, its lowest since July 7, as BOJ introduced emergency bond purchases to examine a surge in 10-year bond yields.

Markets are intently watching the MOF’s subsequent strikes because the yen is nearing 145 per greenback once more, a degree that triggered Japan’s first yen-buying intervention since 1998 final September.



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