Japanese top foreign exchange official Junzuru Mimura: Foreign exchange intervention measures taken two months ago to support the yen have been successful.

The highest currency official in Japan stated that the foreign exchange intervention conducted two months ago to support the Japanese yen has been effective, with some US officials also expressing support. Currently, the yen is hovering near its lowest point in forty years. "From the market's subsequent reaction, I believe that this action has clearly had significance," said Junzaburo Nomura, Japan's Deputy Minister of International Affairs, in an interview with the media on Wednesday. "I have not seen any opposition from the US side to our actions, on the contrary, there have actually been some more positive supportive statements." At the time of Nomura's statement, the yen-to-dollar exchange rate had dropped to a 40-year low, which could exacerbate Japan's inflation pressure as the country relies on imports for most energy and over half of its food. Nomura emphasized his frequent communication with his Washington counterparts, stating, "Through phone calls and emails, my contact frequency with the other side is far beyond what most people imagine." On Wednesday afternoon in the Tokyo market, the yen-to-dollar exchange rate was around 162.80, nearing its lowest level since 1986.