In the New York foreign exchange market on the 14th, the yen exchange rate temporarily dropped to the 148 yen level against the dollar, marking the first time since 1990 that the yen has depreciated for the first time in about 32 years.
Yen-selling and dollar-buying accelerated due to the view that interest rates will continue to rise sharply in order to curb record-breaking inflation in the United States, and that the interest rate differential between Japan and the United States will widen further.
The government and the Bank of Japan intervened on the 22nd of last month to sell the dollar and buy the yen, but the yen's depreciation has not stopped, and there is a growing sense of caution about intervention in the market.