On the 23rd, a US business sentiment indicator came in well above market expectations in the New York market, intensifying selling of the yen and buying of the dollar. The dollar fell to the low ¥158 range rather than the ¥118 range, while US long-term interest rates reached their highest level in 19 years.
A US business sentiment indicator released on the 23rd came in well above market expectations, prompting increased selling of the yen and buying of the dollar in the New York foreign exchange market.
The yen temporarily weakened to the low ¥158 range per dollar, with the trend toward a stronger dollar and weaker yen intensifying beyond its previous level.
US long-term interest rates were reported to have risen to their highest level in 19 years, a factor cited as contributing to volatility in the foreign exchange market.