Immediately after the Bank of Japan decided to raise interest rates at its monetary policy meeting, the yen plunged, with the dollar briefly reaching the ¥157 range. The yen weakened in trading activity in the Tokyo foreign exchange market.
After the Bank of Japan decided the same day to raise its policy rate at its monetary policy meeting, the yen fell sharply against the US dollar. Specifically, the dollar briefly reached the ¥157 range. At the time of reporting, the move was attracting attention.
The move suggests that the market reacted to the Bank of Japan’s rate hike decision, and trading in the foreign exchange market may continue amid heightened caution. The article was reported based on information available at 12:35 p.m. on 18 September.
In subsequent updates, the focus is expected to be on the sustainability of the yen’s weakness, spillover effects on other markets and the scope of the policy’s impact, while investors will be watching for sharp fluctuations in foreign exchange rates.