On the 22nd, the government and the Bank of Japan decided to intervene in the market by selling the dollar and buying the yen.
Due to the market intervention by the government and the Bank of Japan, the yen exchange rate moved from the 145 yen level to the US dollar on the 22nd, and temporarily moved to the low 140 yen level to the US dollar.
In the London foreign exchange market on the 23rd, there was a strong trend to sell the yen and buy the dollar, which can be expected to yield more, as the interest rate differential between Japan and the United States widened. .
A market insider commented, "There are growing doubts about how long the effects will last, given the view that Japan was the sole market intervention. In addition, since the underlying cause of the yen's depreciation is the difference in interest rates between Japan and the United States, the effects of the intervention are growing. There is also a deep-rooted view that it is only temporary."