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Yen jumps after Japan reiterates close US currency coordination

Japan’s top currency diplomat, Mimura, said authorities are prepared to respond if yen weakness continues, and he dismissed concerns that funding constraints could limit intervention.

Reported · Written up by our desk · Central Banks

Japan’s top currency diplomat, Mimura, reiterated that Japanese authorities remain concerned about underlying yen moves and are prepared to respond if necessary, according to Forexlive.

Mimura said Japan, the finance minister, and the US have sent a clear message on the yen and emphasized close coordination between the two countries, focusing on the impact of Japan-US interest rate differentials.

He also pushed back on concerns that funding constraints could limit yen-buying intervention, saying he has absolutely no such concern.

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