We always follow the markets

In an interview with broadcaster NHK on Monday, Atsushi Mimura, Japan’s newly appointed vice finance minister for international affairs and top foreign exchange official, said “the authorities are always watching the markets”.

Additional quotes

The yen trades that took place in the past may have been largely written off…but if such moves pick up again, this could increase market volatility.

We are always watching the markets to make sure this does not happen.

Authorities are prepared to act if currency movements become highly volatile and deviate from fundamentals in a way that causes problems for firms and households.

Market reaction

USD/JPY is little changed on these comments amid thin trading led by national holidays. The pair was last seen trading at 144.32, up 0.30% on the day.