February 13, 2018 / 10:11 AM / 7 months ago

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

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.

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

“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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