Yen Surges Into 157 Range as Japan Leaves Coordinated Intervention Option Open

Jul 31, 2026 | News On Japan

TOKYO - The yen surged in foreign exchange trading on July 30, briefly strengthening into the 157 range against the dollar, as Japan's top currency official declined to rule out the possibility of coordinated intervention with the United States.

Masato Kanda's successor as vice finance minister for international affairs, Atsushi Mimura, said he believed Japan had received support from U.S. authorities that went beyond verbal encouragement.

"I understand that we have received support from the U.S. authorities that goes beyond mere moral support," Mimura said.

Mimura declined to comment on whether authorities had intervened in the currency market. Asked about the yen's current weakness, he said the government would simply "take appropriate action."

U.S. Treasury Secretary Scott Bessent, meanwhile, was asked in a FOX Business interview on July 30 whether Japan may have conducted currency intervention.

"I think the Japanese yen is very undervalued," Bessent said. "At some point, it will be reassessed in line with the fundamentals, and people will realize that it should move in the direction of a stronger yen."

Source: テレ東BIZ

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