The yen surged into the ¥156 range before noon U.S. time. Reports say the Bank of Japan may have conducted a “rate check,” inquiring with market participants about the level of exchange rates.
The yen surged into the ¥156 range in foreign exchange trading before noon U.S. time. The market move was observed as a temporary upward shift in the exchange rate, and investor interest is rising.
The Nikkei online edition reportedly said that the Bank of Japan conducted a “rate check,” inquiring with market participants about the level of exchange rates. The purpose of the inquiry and the specific responses received are not stated in the article.
Reuters and The Nikkei are cited as supporting media for this article, confirming that they reported information to the same effect.
The move could be viewed as part of market intervention by the Bank of Japan, but the article avoids making a definitive statement on the causal relationship, and further reports are awaited.