Japan's top currency diplomat Masato Kanda said Monday the yen's fall relative to the U.S. dollar has been "excessive," driven by speculators, warning that the government stands ready to act if needed to cope with any volatile moves.
But Kanda, vice finance minister for international affairs, declined to say whether the government intervened in the currency market earlier in the day when the yen jumped sharply in a short span of time after it slipped past the 160 line.
