Japan's top currency official, Vice Minister Mimura Jun (三村 淳), said the market should take seriously the warning issued by Japan and the US regarding the yen, signaling a willingness to counter yen weakness. Caution over the yen's movements was also conveyed through Japan-US talks and comments by officials.
Vice Minister Mimura said the market should take seriously the very clear message issued by Japan and the US regarding the yen, signaling a stance against yen weakness.
US President Donald Trump expressed concern about yen weakness at a summit meeting, and Finance Minister Katayama Satsuki (片山 皐月) announced that she had detailed the topics discussed by the two leaders.
Vice Minister Mimura said he would continue to monitor the risk of another decline in the yen, while declining to comment on the possibility of renewed intervention.
In a phone call last week, Finance Minister Katayama and the US Treasury Secretary reaffirmed their concern that the yen was undervalued, indicating that Japan and the US were taking a coordinated approach.
The yen rose on Monday to ¥156.62 per dollar.