Mimura Reiterates Resolve to Act Against Excessive Yen Falls

Japan's top currency diplomat, Atsushi Mimura, reaffirmed his commitment to act against excessive falls in the yen. Speaking on fxstreet.com, he stated that markets should take last week's joint message from Tokyo and Washington at face value. When asked about market concerns over funding constraints limiting Japan's ability to conduct intervention, Mimura said he had 'absolutely no such concern'. The USD/JPY pair traded 0.18% down to near 156.90 during the day.

Mimura emphasized the clear message delivered by Tokyo and Washington, suggesting that their resolve to act against excessive yen falls is unwavering. This statement comes as a response to market speculation over Japan's ability to intervene in currency markets due to potential funding constraints.