Dollar-yen sharply reversed, falling to the 159.60 range. It rose to the 160.19 level shortly after 3 p.m., but subsequently settled back in the 159 yen range.
Dollar-yen has been declining sharply. After rising to the 160.19 level shortly after 3 p.m., it has since reversed to the 159.60 range. Cross-yen pairs have moved similarly, with euro-yen falling to the 176.60 range from a high of 177.13 and pound-yen declining to around 211.25 from a high of 211.86.
Caution is mounting over foreign-exchange rate checks by the government and the Bank of Japan, as well as actual market intervention, and movements in the yen market are becoming increasingly volatile.
The main rates are currently around USD/JPY 159.74, EUR/JPY 176.67 and GBP/JPY 211.28.