Exclusive-Japan top FX diplomat urges markets to heed 'very clear' warning on yen

TOKYO, September 28 - Japan's top currency diplomat Atsushi Mimura has urged global markets to heed Tokyo and Washington's "very clear" message about the yen, signaling his determination to act against excessive depreciation of the currency. US President Donald Trump raised concerns about the yen's weakness during a summit with Japanese Prime Minister Sanae Takaichi.

Finance Minister Satsuki Katayama provided a detailed account of the leaders' discussions on currencies, stating that Japan's prime minister, finance minister, and the US have sent a clear message to the markets.

Mimura expressed his continued vigilance in assessing whether markets will continue to take the message at face value. While he did not comment on potential future interventions by Japan to support the yen, he remained dissatisfied and unconvinced about the recent moves in the currency, indicating that Tokyo remains alert against the risk of renewed declines.

The shared determination of Tokyo and Washington to address the weak yen was evident in phone talks on Friday between Katayama and her US counterpart, Scott Bessent, who also reaffirmed the concern over the yen's undervaluation.