Mitsubishi UFJ Morgan Stanley Securities strategist Daisaku Ueno said FX intervention can only curb speculative yen weakness and is unlikely to permanently stop yen selling while the US–Japan real policy rate gap persists. He called the selling pressure structural, driven by Japanese corporate and household investment decisions and real demand. Japan's finance minister Katayama said the government is prepared to take appropriate FX market action if necessary.

2026-06-22

Mitsubishi UFJ Morgan Stanley Securities strategist Daisaku Ueno said FX intervention can only curb speculative yen weakness and is unlikely to permanently stop yen selling while the US–Japan real policy rate gap persists. He called the selling pressure structural, driven by Japanese corporate and household investment decisions and real demand. Japan's finance minister Katayama said the government is prepared to take appropriate FX market action if necessary.