We also note that the official position is aimed at preventing further weakening of the yen, as the USD/JPY price has risen more than 7% since the beginning of 2024 very close to a 32-year high. Thus, Japanese Deputy Finance Minister for Economic Affairs Masato Kanda yesterday warned that the current weakening of the yen does not correspond to fundamental indicators and is clearly caused by speculation. He concluded that the authorities would take appropriate measures against excessive fluctuations.