Japan's newly appointed top foreign exchange official: The depreciation of the yen is more harmful than beneficial to the economy, and intervention will be considered if necessary

ChainCatcher News, Japan's newly appointed top foreign exchange official, Jun Mimura, stated that the recent weakness of the yen is more detrimental than beneficial to the Japanese economy.

He mentioned that measures such as market intervention could be used to curb speculative behavior that depresses the yen. Jun Mimura indicated that while the recent depreciation of the yen has both advantages and disadvantages, the drawbacks are becoming increasingly apparent. He pointed out that rising energy and food prices are one of the negative impacts of the yen's depreciation on consumers and importers. He also stated that after a comprehensive assessment from multiple angles, they would take action if it is deemed necessary. Jun Mimura also hinted that he might continue his predecessor's strategy, leaving investors to speculate on when Japan will intervene in the market to support the yen.