0500 GMT - There seems to be a high chance for joint U.S.-Japan foreign-exchange intervention to prop up the yen, TD Securities' Macro Research team says in a research report. In a media interview reported Wednesday, Japanese top currency diplomat Mimura's "repeated mention of the U.S. is an attempt to jawbone the market that U.S. officials may be agreeable to a bilateral intervention, which would be a more forceful FX intervention," the team says. "In this scenario, USDJPY could fall much more than the typical 5 figure drop in previous unilateral intervention episodes," the team says. TD Securities perceives Mimura's comments as "deliberate attempt to send a clear warning to yen speculators from pushing USDJPY beyond the 163 level." The dollar is 0.1% lower at 162.39 yen, LSEG data show. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 02, 2026 01:00 ET (05:00 GMT)

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