U.S. Treasury Secretary Janet Yellen respects Tokyo’s decision not to disclose whether it has intervened in foreign exchange markets, according to Japan’s top currency official.
"We’re grateful that Secretary Yellen respects our direction,” chief currency official Masato Kanda told reporters in Tokyo on Wednesday. "We’re in close daily communication with Group of Seven, Group of 20 nations, and particularly with allies including the United States.”
Kanda’s comments come as market moves suggest Japan has continued to step into the market since last month’s first intervention to prop up the yen in 24 years. While Japan confirmed it intervened on Sept. 22, since then it has declined to comment on whether it has entered markets.