Mimura Warns of Aggressive Yen-Buying Interventions by Tokyo

Japan's top currency diplomat, Atsushi Mimura, emphasized that Tokyo and Washington are committed to preventing excessive declines in the yen. In a recent statement, Mimura reaffirmed that markets should take at face value the 'very clear' message from last week, which reinforced the authorities' stance against yen falls.

Mimura also addressed concerns about funding constraints potentially limiting Japan's ability to intervene in the currency market. He stated that he has 'absolutely no such concern,' suggesting that Tokyo is prepared to take action as needed.

The comments from Mimura come at a time when the yen has been under pressure, with the USD/JPY pair showing little immediate response to his statements. The exchange rate did firm slightly on the day, down 0.18% to around 156.90.