Kihara Shifts Focus to BoJ as Yen Gains Traction

Japan's Chief Cabinet Secretary Minoru Kihara made clear that the Bank of Japan (BoJ) is responsible for deciding specific monetary policy measures. In response to a question about US Treasury Secretary Scott Bessent's comment on the Yen, Kihara did not provide any additional commentary.

The government and BoJ are working closely together on economic and financial trends, according to Kihara. When asked about a report that PM Takaichi asked BoJ Governor Ueda to buy Japanese government bonds (JGB), Kihara declined to comment.

Market reaction was seen in the Japanese Yen (JPY) gaining traction, with USD/JPY 0.22% lower at 157.38 as of writing. The JPY is one of the world's most traded currencies, and its value is influenced by various factors including the BoJ's policy, bond yields, and risk sentiment.