February 13, 2018 / 10:11 AM / 10 months ago

Japan top FX official says watching if yen rises speculative: Kyodo

FILE PHOTO: U.S. Dollar and Japan Yen notes are seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration/File Photo

TOKYO (Reuters) - Japan’s top currency official said on Tuesday he will scrutinize whether the yen’s recent sharp gains were speculative, according to Kyodo news agency.

“We’re closely watching whether there are any speculative factors” behind the yen’s rises, Masatsugu Asakawa, vice finance minister for international affairs, told reporters, Kyodo said.

The yen JPY= hit a five-month high against the dollar on Tuesday as investors sought the currency as a safe haven against risk.

Reporting by Leika Kihara; Editing by Richard Borsuk

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