Minister of Finance of Japan, Kiyama Moon: Close communication between the United States and Japan will be renewed as necessary

ON 7 AUGUST, THE MINISTER OF FINANCE OF JAPAN, KAZUOYAMA, IN AN INTERVIEW WITH THE JAPAN SENDERS ASSOCIATION NHK, STATED THAT JAPAN AND THE UNITED STATES WOULD NOT HESITATE TO INTERVENE AGAIN IN THE FOREIGN EXCHANGE MARKET. ZHOUSHAN MOON STATED: “THE PARTIES AGREE THAT THE YEN IS AFFECTED BY YEARS OF `JAPANESE YEN ARBITRAGE', WHICH IS MORE SPECULATIVE THAN DEMAND-DRIVEN.” SHE ADDED: “ON THE BASIS OF THE STATED READINESS OF BOTH SIDES TO INTERVENE WITHOUT HESITATION, WE WILL CLEARLY STATE HOW JAPAN'S MACRO AND MICROECONOMIC POLICIES SUPPORT THE FUNDAMENTALS OF THE JAPANESE YEN'S STRENGTH.”