Japanese Chief Cabinet Secretary Kihara says they are watching market moves with a high sense of urgency, including long-term rates. No comment on FX intervention.

The comments from Japanese Chief Cabinet Secretary Kihara highlight growing concern over market volatility, particularly in long-term rates, without explicitly signaling an intention to intervene in the FX market. This suggests that while there’s vigilance on potentially destabilizing currency movements, authorities might prefer to monitor conditions rather than act, which could influence trader sentiment around the yen and USD/JPY pair. Market participants will likely assess whether this signals a shift in policy focus or reflects a more cautious stance amid global market fluctuations.