In the New York foreign exchange market on the 21st, the yen exchange rate dropped to the upper 151 yen level against the dollar, and then the yen was rapidly bought back, temporarily rising by more than 6 yen to the mid 145 yen level against the dollar. Unusually rough price movement.
The market is speculating that the government and the Bank of Japan are intervening in the market.
In the New York foreign exchange market on the 21st, long-term interest rates temporarily rose to the 4.3% level for the first time in about 15 years against the backdrop of speculation of a significant interest rate hike in the United States. The movement to sell the dollar and buy the dollar, which can be expected to yield more, has strengthened.
As a result, the yen depreciated to the high 151 yen level against the dollar, approaching 152 yen.
After that, the yen was rapidly bought back, with clues such as the Wall Street Journal, a leading American newspaper, reporting that the rate hike in the United States after December may be reduced.
The yen exchange rate temporarily hit the mid-145 yen level to the dollar, rising by more than 6 yen in about an hour and a half, showing unusually rough movements.
"Some speculate that the government and the Bank of Japan may have intervened in the market by selling the dollar and buying the yen," said a market insider.