The yen strengthened sharply in the New York market, briefly reaching the low ¥158 range per dollar. As Japan and the United States grow increasingly vigilant over market developments following their intervention, attention is also focused on what happens next.
In the New York foreign exchange market on the 2nd, the yen strengthened against the dollar, briefly reaching the low ¥158 range per dollar. The market is monitoring the move.
The yen’s sharp rise comes against the backdrop of Japan and the United States moving to conduct coordinated intervention at the end of July, although some market participants believe the latest rise is unlikely to have been caused by intervention.
Market participants are becoming increasingly vigilant about developments, including the possibility of additional intervention, and are closely monitoring how information emerges.