In the foreign exchange market on the 8th, the yen rose to around ¥152 per dollar. It breached the ¥155 barrier, which had not been overcome even through intervention, and has strengthened against a broad range of currencies.
In the foreign exchange market on the 8th, the yen rose to around ¥152 per dollar, breaching the ¥155 barrier that had long been closely watched. The yen has also strengthened against several major currencies, with broad-based strength continuing overall.
A foreign-exchange dealer at a major Japanese bank said, while watching the yen's appreciation, “The higher the mountain, the deeper the valley. The yen is likely to continue strengthening for a while.” The yen has already moved more than ¥7 toward yen strength and dollar weakness from the level seen the previous week.