Japan's top currency diplomat Mimura won't comment on FX levels and says closely watching markets with a high sense of urgency, also says they are not lowering our guard and are in contact with US authorities

Japan's top currency diplomat Mimura refraining from commenting on FX levels suggests a cautious stance amid current market volatility.

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[MARKET UPDATE] Pressure seen in precious metals with spot gold down 0.5% and spot silver leads the retreat with losses of 2.5% to test USD 82/oz to the downside

Japan's top currency diplomat Mimura won't comment on FX levels and says closely watching markets with a high sense of urgency, also says they are not lowering our guard and are in contact with US authorities

PBoC is expected to set USD/CNY mid-point at 6.9153 (prev. 6.9438)

[MARKET UPDATE] Asia-Pac stocks edge higher as the region reacts positively to earnings releases and the better-than-expected US jobs data, while Japan's benchmark hits a fresh record high on return from holiday

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Context

His emphasis on closely monitoring markets and staying in touch with US authorities indicates heightened awareness of potential currency fluctuations, which could impact both Japanese monetary policy and international trade dynamics. This approach may also keep markets alert to possible intervention dynamics going forward.

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