The yen strengthened in the market, with the dollar rising to around ¥152. After reaching the ¥153 range for the first time since mid-February, it settled back around ¥152.
The yen strengthened in the foreign exchange market, with the dollar rising to around ¥152. The dollar had previously reached the ¥153 range before moving back into the ¥152 range.
Against the backdrop of remarks by a Bank of Japan Policy Board member and the U.S. Treasury Secretary's views, market participants are increasingly expecting the Bank of Japan to accelerate its rate hikes.
There are also indications that speculators are buying back yen amid lingering concerns over intervention since the coordinated Japan-U.S. intervention at the end of July.