Key facts
- Japan's top currency diplomat Atsushi Mimura stated markets should take the "very clear" message on the yen at face value.
- Mimura indicated he would watch closely whether markets continue to heed the warning on the yen.
- Japan's Finance Minister Satsuki Katayama reported that US President Donald Trump raised concerns about yen weakness.
- Katayama and US Treasury Secretary Scott Bessent reaffirmed that the yen's undervaluation is a concern.
Japan's top currency diplomat Atsushi Mimura urged markets on Monday to take seriously the "very clear" message from Tokyo and Washington regarding the yen's recent declines. He indicated readiness to act against excessive falls in the currency, signaling ongoing concern from both nations about its undervaluation.
US President Donald Trump raised concerns about yen weakness with Japanese Prime Minister Sanae Takaichi, according to Katayama, who provided a detailed account of the leaders' currency discussions. Mimura stated that the combined messages from Japan's prime minister, finance minister, and the US should be taken at face value.