The government and the Bank of Japan adopted a policy of conducting a rate check as a preparation for addressing the yen's appreciation, and the yen surged by about ¥1 in the market from late on the 18th into the early hours of the 19th, reaching the latter half of the ¥156 range per dollar.
In the foreign exchange market, the yen surged by about ¥1, temporarily reaching the latter half of the ¥156 range per dollar. Reports said that the government and the Bank of Japan had prepared to conduct what is known as a rate check.
It was reported that the government and the Bank of Japan had conducted a rate check in preparation for yen-buying intervention, indicating that they would consider how to respond after monitoring market developments.
The reported background is an ongoing nervous standoff in the market as expectations for a rate hike have receded, drawing attention to developments in the foreign exchange market.