The top Japanese foreign exchange official says that International Monetary Fund rules do not limit the number of interventions.

Junichiro Mimura, Japan's top foreign exchange official, said on Thursday that the rules of the International Monetary Fund do not restrict the frequency of intervention by authorities in the foreign exchange market. After a sharp rise in the yen on Wednesday, Mimura told reporters that the government will continue to closely monitor the exchange rate with a sense of urgency. He declined to comment on these fluctuations. Mimura stated that speculative activity in the foreign exchange market is still ongoing. Authorities are keeping an eye on various markets to look for potential response measures. He refused to comment on whether there is a line of defense for the yen exchange rate. He also declined to comment on the upcoming visit of U.S. Treasury Secretary Scott Bernt.