Mimura Warns Markets: Japan and US Serious About Addressing Yen Weakness

Japan's currency diplomat Atsushi Mimura is urging markets to heed the 'very clear' warning on the yen, issued by Tokyo and Washington last week. The warning was delivered after US President Donald Trump raised concerns about yen weakness during a summit with Japanese Prime Minister Sanae Takaichi.

Mimura said that Japan's prime minister, finance minister, and the US have sent a 'very clear message' on the yen's recent declines, urging markets to take it at face value. He added that he will be closely watching whether markets continue to heed this warning.

The yen has been under pressure due to a weak economy and rising inflation concerns, with some analysts predicting further declines in the currency. However, Mimura brushed aside concerns about funding constraints limiting Japan's ability to intervene in the market again, saying 'I have absolutely no such concern'.