Japan’s Latest Warnings on FX Intervention Help Buoy Yen

Japan’s top currency official helped strengthen the yen by delivering his strongest warning yet to speculators that authorities may take bold action in markets if current conditions persist.

“We’re hearing increasing concern that speculative activity is picking up not just in the crude oil futures market, but also in the foreign exchange market,” Atsushi Mimura, vice finance minister for international affairs told reporters Monday. “If this situation continues, we believe decisive action may soon be necessary.”