Japan FX Chief Stays on High Alert Over Yen Gains as BOJ Hike Bets Rise
Updated
Updated · KFGO · Sep 3
Japan FX Chief Stays on High Alert Over Yen Gains as BOJ Hike Bets Rise
3 articles · Updated · KFGO · Sep 3
Summary
Atsushi Mimura said Japan remains in a state of heightened alert after the yen’s sudden jump, adding he was “neither satisfied nor reassured” by recent market moves.
Wednesday’s burst higher extended into Thursday, but traders largely tied the yen’s gains to rising bets on Bank of Japan rate hikes rather than suspected currency intervention.
Mimura, Japan’s vice finance minister for international affairs, declined to discuss specific exchange-rate levels or say whether authorities had conducted a rate check.
At the policy level, Mimura said Japan’s finance minister and U.S. Treasury Secretary Scott Bessent held productive talks on market developments and G20 cooperation, underscoring the international focus on Japan’s currency moves.