The yen exchange rate surged to the first half of the ¥155 range against the dollar, and the market is factoring in a scenario in which the Bank of Japan accelerates the pace of interest-rate hikes. Views are spreading that the ¥15 trillion intervention will have only a short-lived effect.
The yen exchange rate surged to the first half of the ¥155 range against the dollar.
Reports say the market is factoring in a scenario in which the Bank of Japan accelerates the pace of interest-rate hikes, prompting increased yen buying.
The effect of the government’s ¥15 trillion intervention is considered unlikely to last.