Yen intervention comments out of Japan

USD/JPY is down

Atsushi Mimura is Japan’s vice finance minister for international affairs, AKA ‘top currency diplomat’.

Japan’s finance ministry is the relevant authority in Japan for ordering intervention in the JPY. Mimura has taken over from Kanda in charge of the relevant department, so it’s him who would be directing Bank of Japan intervention, should it come to that.

Says:

• recent yen moves are somewhat rapid and one-sided
• closely watching FX moves with a high sense of urgency
• excess volatility in FX market is undesirable

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This article was written by Eamonn Sheridan at www.forexlive.com.