Japan's top FX official Mimura warned again on the weak yen, pushing the
The currency is about 0.4% higher to 156.51 per dollar, its strongest since Sept. 18.
Mimura said the prime minister, finance minister and US counterparts had given
"very clear" signals on yen depreciation. Prime Minister Takaichi said US
President Trump voiced concern about the weak yen at a recent meeting. Finance
Minister Katayama spoke by phone with the US treasury secretary on Friday
evening; both reiterated that the yen is undervalued and agreed to deepen
US-Japan cooperation. Nomura FX strategist Yusuke Miyairi said the comments
should raise market tension over possible Ministry of Finance intervention, and
that Mimura—who had previously signaled silence to sustain concern over
intervention risk—has begun verbal intervention since last Friday.
