Japan's top currency diplomat Atsushi Mimura said authorities are 'always watching markets' as a renewed build-up of yen carry trades could heighten market volatility, according to public broadcaster NHK, citing him in an interview.
Sheets of newly-designed Japanese 10,000 yen banknotes move through a machine at the National Printing Bureau Tokyo plant in Tokyo, Japan, on Wednesday, June 19, 2024. Persistent weakness in the yen is raising concerns about the potential for a resurgence in cost-push inflation, likely weighing on private consumption.
"But if such moves increase again, that could heighten market volatility. We are always watching markets to ensure that does not happen," Mimura was quoted as saying. In July, Mimura took over as vice finance minister for international affairs, a role that oversees Japan's currency policy, succeeding Masato Kanda.
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