{"id":43909,"date":"2023-08-03T07:38:40","date_gmt":"2023-08-03T11:38:40","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/forex\/japan-asks-x-to-take-down-fake-account-of-top-fx-diplomat-as-yen-weakens\/"},"modified":"2023-08-03T07:38:41","modified_gmt":"2023-08-03T11:38:41","slug":"japan-asks-x-to-take-down-fake-account-of-top-fx-diplomat-as-yen-weakens","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=43909","title":{"rendered":"Japan asks X to take down fake account of top FX diplomat as yen weakens"},"content":{"rendered":"<div>\n<p>(Corrests to say the fake account had made five, not four, posts to date in paragraph 4)<\/p>\n<p>TOKYO (Reuters) &#8211; Japan&#8217;s Ministry of Finance (MOF) warned on Thursday of a fake account for its top currency diplomat Masato Kanda on social media X, formerly known as Twitter, as the market fears a currency intervention amid the yen&#8217;s drop to a one-month-low.<\/p>\n<p>In a rare English-language post on X, the ministry said &#8220;Please don\u2019t follow the impersonation account and\/or comment on the post&#8221;, saying such an X account purportedly belonging to Kanda or his staff did not exist.<\/p>\n<p>&#8220;MOF is currently requesting that X (formerly Twitter) suspends the impersonation account. Thank you for your cooperation&#8221; it said, in its official account .<\/p>\n<p>The account, under the name &#8220;Masato Kanda&#8221; and the user ID &#8220;@Jgghkj_&#8221;, appeared to have been created in March and made only five posts to date, including three pictures of Kanda posted on March 1. The latest post, made at 3:56 pm (0656 GMT), appeared to have impersonated Kanda&#8217;s recent trip to Ukraine.<\/p>\n<p>Kanda was in Ukraine on Wednesday to explain Japan&#8217;s support for the country, the MOF had announced.<\/p>\n<p>The fake account, which follows about 5,000 users and was followed by little more than 550, has made no remarks about the yen or financial markets.<\/p>\n<p>Kanda, Japan&#8217;s vice-minister of finance for international affairs, has been the central figure in the country&#8217;s efforts to stem the sharp decline of its yen currency since last year, supervising record yen-buying, dollar-selling operations late last year.<\/p>\n<p>Prior to the Bank of Japan&#8217;s latest July 27-28 policy meeting, Kanda made rare remarks on the chance of BOJ policy tweaks, in addition to warning the market that authorities will consider all options to deal with the yen&#8217;s excess volatility.<\/p>\n<p>The BOJ surprised markets with a tweak to its bond yield control programme last week, allowing interest rates to rise more freely.<\/p>\n<p>The yen weakened on Thursday to hit 143.89 against U.S. dollar, its lowest since July 7, as BOJ announced emergency bond purchases to check a surge in 10-year bond yields.<\/p>\n<p>Markets are closely watching the MOF&#8217;s next moves as the yen is nearing 145 per dollar again, a level that triggered Japan&#8217;s first yen-buying intervention since 1998 last September.<\/p>\n<p>\u00a0<\/p>\n<p>(This story has been refiled to clarify that the fake account had made five, not four, posts to date in paragraph 4)<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/economy\/japan-asks-x-to-take-down-fake-account-of-top-fx-diplomat-as-yen-weakens-3143055\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Corrests to say the fake account had made five, not four, posts to date in paragraph 4) TOKYO (Reuters) &#8211; Japan&#8217;s Ministry of Finance (MOF) warned on Thursday of a fake account for its top currency diplomat Masato Kanda on social media X, formerly known as Twitter, as the market fears a currency intervention amid [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":791,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[244],"tags":[83],"class_list":["post-43909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - 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