Japanese Finance Minister Katayama continues to refrain from commenting on intervention data and said PM Takaichi talked about FX benefits as a general fact, and didn't specifically emphasise merits in a weak yen

Japanese Finance Minister Katayama continues to refrain from commenting on intervention data and said PM Takaichi talked about FX benefits as a general fact, and didn't specifically emphasise merits in a weak yen.

The statement from Finance Minister Katayama indicates a cautious stance regarding foreign exchange intervention, which may signal that the government is not currently favoring aggressive measures to support the yen. This could lead to ongoing pressure on the JPY if market participants interpret the lack of intervention as a tolerance for yen weakness, potentially affecting commodities priced in yen, like gold. Watch for potential shifts in sentiment around the yen as any future commentary could impact both currency markets and broader asset classes.