Japan's Top Currency Official Prepared to Respond to Yen Speculation on May 7

Japan's top currency official Masatsugu Mimura said on May 7 that the country is prepared to respond comprehensively to speculative activities against the yen. Mimura stated he is closely monitoring the market with a sense of urgency given persistent speculative activity, though he declined to comment on Wednesday's sharp yen fluctuations or whether the Finance Ministry has set a specific exchange rate level to defend.
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