Japanese Prime Minister Sanae Takaichi stated on Thursday that her government's policies would boost market confidence in the yen, following previous efforts to strengthen the currency, including U.S. intervention, which had proven ineffective. She revealed that she had informed U.S. President Donald Trump last month that the yen's undervaluation was an issue.

Takaichi emphasized that Japan's economic policies are not aimed at manipulating exchange rates but rather at enhancing the economy's supply capacity and global competitiveness through bold investments in crisis management and growth sectors, thereby ensuring market confidence in the yen. She also stated that the government would set spending levels consistent with reducing Japan's debt-to-GDP ratio and appropriately manage the scale of bond issuance.

The USD/JPY exchange rate was 158.37 at 5:57 AM ET on Thursday.