Japan¡¯s currency chief suggested intervention was an effective strategy and flagged close communication between Tokyo and Washington over foreign exchange, in comments made as the yen hovers near a four-decade low.
¡°Judging from how the market moved afterward, I think it clearly had meaning,¡± Atsushi Mimura, Japan¡¯s vice finance minister for international affairs, said of Tokyo¡¯s last entry into the market two months ago during an interview Wednesday.
He also indicated that Japan did not hit a wall of opposition from the U.S. over its entry into the market at that time.
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