Mimura Warns Markets: Japan and US Unite Against Weak Yen

Japan's top currency diplomat Atsushi Mimura warned markets to take seriously the 'very clear' message delivered by Tokyo and Washington on the yen's weakness. In an interview with Reuters, Mimura stated that Japan and the US have sent a unified signal on the need for the yen to strengthen.

Mimura declined to comment on whether another coordinated intervention would be necessary, but emphasized his concern over the yen's recent decline. He also dismissed market views that funding constraints could limit Japan's ability to intervene again, saying he has 'absolutely no such concern.'

The comments from Mimura came after a summit between US President Donald Trump and Japanese Prime Minister Sanae Takaichi, where concerns about the yen's weakness were raised. The BOJ has been raising interest rates to combat inflationary pressures caused by a weak yen.