Euro Tumbles as Japan Threatens Intervention

The Euro fell sharply against the Japanese Yen on Thursday, dropping by 1.37% to trade around 181.40 at the time of writing.

This decline comes as Japan's top currency diplomat Atsushi Mimura reiterated that authorities remain ready to act in the foreign exchange market, with Mimura stating 'We continue to stand ready on forex.'

Mimura declined to comment on whether recent rate checks had been conducted with market participants, a move that can precede intervention.

Despite these warnings, Mimura expressed dissatisfaction with current market conditions, suggesting the threat of Japanese intervention remains alive.