The yen strengthened against both G10 currencies and Asian currencies during early trading, fueled by market expectations that Japanese authorities might intervene in the foreign exchange market. Multiple media outlets reported that Japan's Finance Minister, Takaichi Sanae, stated over the weekend that the government would take necessary measures to address speculative and excessive volatility. Citing information from informed sources, media reported that the New York Federal Reserve, under the direction of the U.S. Treasury, had contacted potential counterparties last Friday for so-called "rate checks." Data from the London Stock Exchange Group showed the U.S. dollar fell 0.4% against the yen to 155.15, while the Australian dollar dipped 0.1% against the yen to 107.20.