Dollar-yen softened in the Tokyo market on the afternoon of the 2nd, falling to around 159.43 yen. Yen buying accelerated after BOJ Policy Board member Takata (高田) indicated a positive stance toward further monetary tightening.
Dollar-yen traded in a range of 159.43-160.39 yen in the Tokyo market on the afternoon of the 2nd, remaining soft. Major currencies accelerated their declines against the yen, with euro-yen recording a range of 184.68-185.75 yen and euro-dollar a range of $1.1573-$1.1596.
The reported indication by BOJ Policy Board member Takata (高田) of a positive stance toward further monetary tightening led to market trading driven by yen buying. Caution in the market also increased, and there were times when speculation about foreign exchange intervention intensified.
The latest move shows that, against the backdrop of comments from BOJ officials, exchange-rate movements against the yen, centered on dollar-yen, fluctuated sharply. It has been reported that the BOJ's views and market speculation about intervention are expected to remain a focus.