Japan’s Vice Finance Minister For International Affairs, Atsushi Mimura, recently addressed market concerns in an interview with NHK Broadcaster, emphasizing the importance of monitoring market activities to prevent increased volatility. Mimura stated that authorities are constantly vigilant to ensure market stability and are prepared to take action if necessary.
## Key Quotes
– Yen carry trades from the past are likely unwound, but any resurgence could lead to heightened market volatility.
– Authorities are closely monitoring markets to prevent such occurrences and ensure stability.
– Immediate action will be taken if currency movements deviate significantly from fundamentals, causing issues for businesses and households.
## Market Response
Following Mimura’s comments, the USD/JPY pair experienced minimal change due to a national holiday affecting trading volume. The pair is currently trading at 144.32, showing a 0.30% increase for the day.
This statement from Japan’s Vice Finance Minister highlights the government’s commitment to maintaining market stability and addressing any potential risks. By emphasizing the importance of market surveillance and readiness to intervene when necessary, authorities aim to protect both businesses and households from adverse effects of volatile currency movements.
In summary, Atsushi Mimura’s remarks serve as a reassurance to investors and market participants, indicating a proactive approach to safeguarding financial stability in Japan. Through continuous monitoring and swift action, authorities aim to mitigate risks and ensure a secure environment for economic growth and prosperity.