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USD/JPY holds near 157 as Japan warns on yen weakness

Japan’s top currency diplomat renewed warnings about yen weakness but did not say whether intervention would be used again.

Reported · Written up by our desk · Major Pairs

USD/JPY traded little changed around 157.25 on Monday, with the US dollar also steady near recent highs, as traders weighed Middle East developments and the risk of renewed Japanese yen intervention, FXStreet reports.

Japan’s top currency diplomat, Atsushi Mimura, said markets should take Japan’s and the United States’ message “at face value” and added he was neither satisfied nor reassured by the yen’s recent moves, while declining to comment on whether Tokyo would intervene again.

FXStreet notes Mimura indicated Japan had no concerns about its ability to fund further currency-market action, and suggested officials remain prepared to intervene after earlier episodes in April and July.

Separately, the story cites that US-Iran discussions continue through intermediaries, and that any potential agreement would need to address the nuclear issue, adding to the broader backdrop traders are monitoring.

Latest closeUSD/JPY 157.19 ▼0.7%

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