The Bank of Japan conducted a rate check last night, regarded as a preparatory step for foreign exchange intervention, and the yen briefly strengthened by more than ¥1. Markets closely monitored developments during the day.
It was learned that the Bank of Japan conducted a rate check last night, regarded as a preparatory step for foreign exchange intervention. The yen briefly strengthened, moving by more than ¥1.
On the evening of the 18th Japan time, the yen/dollar exchange rate was reported to have been trading in the upper ¥157 range in the foreign exchange market.
The move prompted market speculation that the Bank of Japan was preparing to intervene, drawing attention to developments ahead.