On March 27th, the yen approached the 152 yen level, marking the first time in 33 years and 8 months since July 1990 that the yen had weakened to the dollar. The trigger for the historic depreciation of the yen was a statement made in a lecture in Aomori by a member of the Bank of Japan who decides on monetary policy.
Naoki Tamura, who has the image of a hawk, did not make any in-depth statements about further interest rate hikes and instead used the word "slowly", leading to the perception that there was a long way to go before raising interest rates.