After the yen rose sharply, the Japanese government was unwilling to confirm whether to interfere in the foreign exchange market during overnight trading, but hinted that it was supported by US officials and other overseas peers. Finance Minister Katayama Satsuki avoided the question of whether the sharp rise in yen was the result of intervention on Friday. She only stated that the authorities would “maintain a high level of vigilance and take appropriate measures.” Shortly thereafter, Japan's head of foreign exchange affairs, Jun Mimura hinted that he had always received support from his American peers and other countries. Mimura said he is indeed aware that the support we have received from the US is more than just moral support. He added that he is in close contact with the US authorities through his own channels, but declined to give further details. The yen rose 3.3% against the US dollar during Thursday's New York trading session, the biggest intraday gain since December 2023. A source familiar with the matter revealed that the Japanese government intervened to support the yen exchange rate, adding that the US authorities carried out an exchange rate check at around 2:30 Tokyo time.

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