Japan’s top currency diplomat Masato Kanda said early Tuesday that he is communicating with various countries including the US over currencies, per Reuters.
It’s worth noting that Japan Chief Cabinet Secretary Hirokazu Matsuno and Finance Minister (FinMin) Shunichi Suzuki have also recently flagged concerns about the Asian major’s market intervention as the USD/JPY stays near the multi-month high of around 145.00.
Apart from the Japan intervention, US Treasury bond yields renew fears of recession and also weigh on the risk-barometer pair, not to forget the recently softer US data. However, the Bank of Japan’s (BoJ) defense of easy-money policy joins the recently softer Japan statistics to propel the USD/JPY pair.
Even so, the Yen pair began the week on a firmer footing with a daily gain of 0.26% while ending Monday’s North American trading session at around 144.65.
Also read: USD/JPY Price Analysis: Bears are chipping away at daily dynamic support
