Japan’s Mimura keeps threat of FX intervention alive
Japan’s top currency diplomat Atsushi Mimura reiterates on Thursday that authorities remain ready to act in the foreign exchange market, as Tokyo continues to closely monitor currency moves.
“We continue to stand ready on forex,” Mimura says, according to Reuters. Asked whether authorities had conducted rate checks with market participants, a practice that can precede an intervention, he declines to comment.
Mimura also strikes a cautious tone on current market conditions, saying he is “neither at ease nor satisfied” with the situation.
The comments therefore keep the possibility of intervention by Japanese authorities on the table, without providing confirmation that any concrete steps have already been taken.
Market reaction
The Japanese Yen (JPY) shows little immediate reaction to these comments. USD/JPY trades around 156.55 at the time of writing, down 1.36% on the day.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
MARSCOIN's market cap has halved from its peak, briefly falling below $130 million.
When the market worries about the sustainability of AI profitability, HSBC makes a contrarian statement: US stocks are "not expensive," and the structural investment cycle of AI has not yet been fully priced in.
Willem Sels from HSBC believes that the US stock market is not as expensive as it appears on the surface. He points out that current valuations have yet to fully reflect the scale of productivity improvements and profit growth driven by artificial intelligence (AI).
'The chain is now earnings': Bernstein sees 31% upside for Robinhood as fees top Solana, BNB Chain
Zcash jumps 2,496%, sector market cap climbs to $33.6 billion
Crypto prices
More
