The Japanese authorities issued a verbal warning, and the yen received support.

On November 19th, Jin Shi Data reported that in early trading, the Japanese yen remained strong against other G-10 and Asian currencies, supported by verbal warnings from the Japanese authorities. Japanese Finance Minister Taro Aso stated that the authorities are closely monitoring the forex market, including speculative actions, with a sense of urgency. A research report from ANZ Bank pointed out that further significant pump in USD/JPY may prompt intervention from the authorities to support the yen. Economists and currency strategists believe that the authorities do not favor one-sided, sudden fluctuations.