The government and the Bank of Japan intervened in the foreign exchange market without warning. Following the intervention on the night of 30 July, the rapid depreciation of the yen was curbed, while USD/JPY briefly rose to the 157 range. Views are spreading that it will be difficult to unwind the structural factors behind yen weakness.
The government and the Bank of Japan intervened in the foreign exchange market without warning. The intervention on the night of 30 July sought to support the yen against the dollar, and the exchange rate temporarily moved toward a stronger yen.
Views have been reported that it will be difficult to unwind the structural factors behind yen weakness, and discussions surrounding foreign exchange volatility risks may continue.