The yen surged on the 3rd, appreciating by approximately ¥5 over 2 days. There were no signs of foreign-exchange intervention, suggesting that market concerns over how serious the BOJ is may be a factor behind the move.
The yen surged on the 3rd, briefly reaching the low ¥155 range per U.S. dollar. Including this move, the yen appreciated by approximately ¥5 over the past 2 days. There have been no signs of foreign-exchange intervention.
Mimura Jun (三村 淳), the Ministry of Finance's Vice Minister of Finance for International Affairs, said, “We remain on a war footing,” indicating that he intended to maintain a vigilant stance aimed at preventing further yen appreciation.
Market participants pointed to the influence of speculative traders seeking short-term gains and remarks by the U.S. Treasury Secretary on raising interest rates as background factors behind the yen's appreciation.
Against this backdrop, the market views the BOJ's seriousness as a key factor for the yen's direction going forward.