Japan’s top foreign exchange official says IMF rules do not limit the number of interventions

Jinse Finance reported that on May 7, Japan’s top foreign exchange official, Atsushi Mimura, stated on Thursday that the International Monetary Fund (IMF) rules do not restrict how often authorities can intervene in the foreign exchange market. After the yen rose sharply on Wednesday, Mimura told reporters that the government will continue to closely monitor exchange rate movements with a strong sense of urgency. He declined to comment on these fluctuations. Mimura said that speculative activities in the foreign exchange market are ongoing. The authorities are watching various markets to seek possible responses. He refused to comment on whether there is a defense line for the yen exchange rate. He also declined to comment on the upcoming visit of U.S. Treasury Secretary Scott Besant. (Dongxin News Agency)