Overview
- Japan’s top currency diplomat Atsushi Mimura said Thursday the IMF’s free‑float label does not cap how often Japan can step into markets, adding he is closely watching the yen after sharp swings this week.
- The yen jumped in minutes to about 155 per dollar during Wednesday’s thin holiday trading in a move widely described as suspected official buying, though authorities have not confirmed any action.
- Market estimates based on Bank of Japan account data point to roughly JPY5–6 trillion, or about $32–38 billion, in yen‑buying during Golden Week, following an earlier April 30 operation estimated near $35 billion.
- U.S. Treasury Secretary Scott Bessent visits Tokyo next week for talks that include yen weakness, a forum that could open the door to coordinated messaging.
- Banks such as MUFG say one‑off buying is likely to fade without a smaller U.S.–Japan rate gap and calmer oil markets tied to the U.S.–Iran conflict, and a weak yen keeps energy and food imports costly for households and businesses.