Mimura: Japan Prepared to Address Foreign Exchange Concerns

Atsushi Mimura, Japan's Vice Finance Minister for International Affairs and top foreign exchange official, said he is in close contact with relevant authorities on foreign exchange. These officials are prepared to take suitable measures, although Mimura declined to comment on currency intervention.

The USD/JPY pair is currently trading around 160.35, up 0.51% on the day. The Japanese Yen's value is determined by various factors, including the performance of the Japanese economy and the Bank of Japan's policy.

Mimura mentioned that he is in talks beyond the US and is hearing various concerns over recent yen weakness. He also stated that he is in close contact with U.S. authorities.