Japan's Vice-Minister of Finance for International Affairs, Atsushi Mimura, said on Thursday the government remains on high alert following a sharp appreciation in the yen, which extended gains into the new session.
Speaking in Tokyo after returning from the G20 finance ministers meeting in Asheville, U.S., Mimura told reporters the recent market movements had left him neither satisfied nor at ease. The yen has surged this week, with market participants attributing the gains to rising expectations of a Bank of Japan interest rate hike rather than any official currency intervention.
Mimura declined to comment on whether authorities had adjusted rates or intervene in the currency market, stating only, "I will not comment on that." He also refrained from addressing specific levels or the drivers behind the yen's advance.
The remarks follow productive bilateral discussions between Japan's Finance Minister and U.S. Treasury Secretary Scott Bessent, who covered recent market developments and G20 cooperation. Bessent had previously commented on Japan's monetary policy, prompting further scrutiny of the yen's trajectory.
The yen's sudden gains on Wednesday marked one of its most pronounced moves in recent sessions, prompting heightened attention from policymakers and investors alike.
