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 market intervention by the government and the Bank of Japan, the yen exchange rate in the foreign exchange market moved from the 145 yen level to the US dollar the day before yesterday, and temporarily moved to the low 140 yen level to the US dollar.
On the 23rd, in the New York foreign exchange market, awareness of the interest rate differential between Japan and the United States led to the selling of the yen again, while the dollar, which is expected to yield higher yields, was bought, and the yen exchange rate fell gradually to the low 143 yen level to the dollar. Did.
In the market, there is a growing sense of caution about further market intervention by the government and the Bank of Japan. is intensifying.
A market insider said, ``In addition to the view that Japan was the sole market intervention, many investors believe that the effects of intervention will not last long because the yen's depreciation is due to the difference in interest rates between Japan and the United States. , it is unclear whether the yen's depreciation will come to a halt."