Dollar-Yen Slides Amid Japan's Intervention Caution

The dollar-yen pair declined to its lowest point this week at 156.51 yen after Vice Finance Minister Mimura hinted that Japan would respond to currency movements, sparking caution among investors.

In Tokyo foreign exchange trading on the 28th, the dollar-yen pair initially fell from the upper-157 yen range due to early selling pressure from European participants entering the market.

The downward momentum accelerated after Mimura's comments were reported, with the pair hitting a low of 156.62 yen before dipping further to 156.51 yen shortly after 5:00 PM.

Cross-yen pairs also experienced selling pressure, with EUR/JPY falling to 178.20 yen and GBP/JPY dropping to 207.67 yen.