Forex
Yen strengthens after Japan's top currency diplomat reiterates alliance with US
The Japanese yen rose after Japan's top currency diplomat, Mimura, reiterated that authorities are closely watching the currency and are prepared to intervene if necessary.
He said Japan and the US, through the finance minister, have sent markets a clear message on the yen, underscoring close coordination between the two countries.
For beginners When officials publicly warn they are ready to step into currency markets, it's called 'verbal intervention' — it can move prices on its own, even before any actual buying or selling of the currency takes place.