高市早苗胜选后，日本外汇主管警告“正密切关注日元走势”

Core Viewpoint - The recent election victory of Prime Minister Sanna Takashi has led to increased pressure on the Japanese yen, prompting the Ministry of Finance to signal heightened vigilance to stabilize market expectations regarding fiscal expansion [1][2]. Group 1: Election Impact and Market Reaction - The direct trigger for the yen's depreciation was the policy expectation shift following Takashi's clear electoral victory, which is anticipated to lead to more aggressive fiscal spending [2]. - The ruling Liberal Democratic Party, led by Takashi, secured 316 out of 465 seats in the House of Representatives, marking the largest victory for a single party in post-war Japan [2]. - Takashi's post-election comments about potentially suspending the food sales tax for two years have raised concerns about fiscal health, further pressuring the yen and Japanese government bonds [2]. Group 2: Official Statements and Market Communication - Atsushi Mimura emphasized the government's ongoing commitment to monitor market movements with urgency and maintain open communication with the market [3]. - Satsuki Katayama's remarks included a warning about the potential for decisive measures, including intervention, in response to rapid fluctuations in the yen's value [3]. Group 3: US-Japan Coordination and Intervention Strategies - Katayama highlighted the importance of coordination with U.S. Treasury Secretary Janet Yellen, framing the responsibility for stabilizing the USD/JPY exchange rate as a shared obligation [4]. - Previous volatility in the yen was initially perceived as a potential intervention by Tokyo, but was later attributed to U.S. interest rate checks, indicating a complex interplay between U.S. and Japanese monetary policies [4]. Group 4: Market Dynamics and Fiscal Sustainability - As the yen weakened, Japanese stock markets and benchmark government bond yields rose, indicating a rapid reassessment of growth, inflation, and fiscal expansion expectations [5]. - Katayama reassured that the Takashi administration is focused on fiscal sustainability and will carefully monitor financial markets, with investors keenly observing the implementation of fiscal stimulus commitments and tax policy discussions [5].