The yen in the Tokyo foreign exchange market briefly strengthened to the ¥157-per-dollar level, rebounding from the ¥160-range low seen after the intervention at the end of July. The meeting between the Governor of the Bank of Japan and the US Treasury Secretary on 30 August was reported as a factor behind the move.
The yen in the Tokyo foreign exchange market briefly strengthened to the ¥157-per-dollar level. Following its previous movements, the yen broke through the ¥160-range low seen after the yen-buying intervention at the end of July and was reported to have moved toward further appreciation.
The 30 August meeting between Bank of Japan Governor Ueda (植田) and the US Treasury Secretary was highlighted, with the US side reportedly discussing the normalization of Japan's monetary policy. The pace of Bank of Japan rate hikes was also mentioned in this connection.
The article reported that Treasury Secretary Bessent (ベッセント) disclosed on social media that he had discussed the normalization of Japan's monetary policy.
Overall, the report suggested that dialogue between Japan and the United States and discussions concerning policy normalization may have influenced the yen's rise to the ¥157-per-dollar level that day.