On the 28th, the yen depreciated in the Tokyo foreign exchange market, and the yen exchange rate was trading at the upper 144 yen level to the dollar.
The government and the Bank of Japan took steps to intervene in the market last week to put the brakes on the rapid depreciation of the yen, but the yen has been depreciating gradually since then.
In the foreign exchange market, long-term interest rates are rising due to the view that the United States will continue to raise interest rates significantly, and there is a growing movement to sell the yen and buy the dollar as the interest rate differential between Japan and the United States widens.
As a result, in the New York market on the 27th, the price temporarily dropped to 144.90 yen per dollar and fell to a level approaching 145 yen.
A market insider commented, ``There are speculations that the government and the Bank of Japan may intervene in the market again. I'm here.