In the foreign exchange market last weekend, the government and the Bank of Japan intervened in the market by selling the dollar and buying the yen.
In the foreign exchange market on the 24th, the beginning of the week, the yen depreciated temporarily, but it has been fluctuating wildly, such as a sudden appreciation of the yen.
In the New York foreign exchange market on the 21st of last week, the yen exchange rate fell to around 151.90 yen to the dollar, and then jumped to the mid-144 yen level to the dollar at a stretch of more than 7 yen.
According to interviews with people involved, it was a so-called "masked intervention" in which the government and the Bank of Japan dared not disclose the fact of the intervention.
After that, the yen was sold, and in the foreign exchange market on the 24th of the week, the yen exchange rate was temporarily trading at 149 yen per dollar, but around 8:30 am, the yen sharply appreciated. etc. is changing drastically.
A market insider said, "The yen exchange rate has been moving significantly, such as suddenly returning from the mid-149 yen level to the 146 yen level. Following on from last weekend, the government and the Bank of Japan may have once again intervened in the market this morning." I'm talking to
Finance Minister Suzuki "We will take necessary measures as necessary"
In an interview with reporters at the Ministry of Finance on the morning of the 24th, Finance Minister Suzuki said, "We are strictly dealing with speculators through the market. I will not comment on such a situation."
After that, regarding the depreciation of the yen again in the foreign exchange market on the 24th, he said, "We will continue to monitor exchange trends with a high degree of tension. Excessive fluctuations due to speculation are absolutely unacceptable, and in such cases it is necessary. I would like to take necessary measures according to the situation," he said, showing that he would not hesitate to intervene in the market if necessary, and kept speculators in check.
Finance Minister Kanda ``We will take appropriate measures against excessive fluctuations''
At around 8:50 a.m., after the yen's exchange rate had rapidly appreciated, Finance Minister Kanda told reporters at the Ministry of Finance, ``I will not comment at all on whether or not there was any intervention, but just as before, 24 hours a day, 365 I said that I would take appropriate measures against excessive fluctuations, and I think I will continue to do so."