Japan's Mimura says joint yen action culmination of currency alliance

Japan’s top currency official, Atsushi Mimura, said the recent joint yen intervention with the United States could be viewed as the culmination of a long-running currency alliance, reinforcing expectations that Tokyo and Washington may continue coordinated action if the yen weakens again. He declined to comment on Trump’s forex remarks or on specific talks with the Bank of Japan, but signaled ongoing close cooperation. Mimura also clarified that the Fed’s FIMA repo facility is only one of several intervention tools and that its limits do not cap Japan’s overall FX firepower. The remarks follow confirmation that Friday’s coordinated yen-buying action was the first joint intervention since 2011 and was intended to curb disorderly yen weakness after the currency hit 40-year lows versus the dollar. The market takeaway is modestly supportive for the yen, as authorities appear willing and able to intervene again, though no new timing or size details were provided.