Tokyo yen continues to rise in the second half of the 157 yen range
The short version
The yen rose in the Tokyo market and was traded in the second half of the 157 yen range. It briefly rebounded in the New York market, but has since recovered. Uncertainty around intervention restriction rules is affecting market psychology.
The yen rose in the Tokyo market and was traded in the second half of the 157 yen range.4,3 In the New York market, the yen temporarily declined, and the dollar = 157 yen 70 to 80 cents.2 In the New York market, the yen recovered after that, and stagnated again in the second half of the 157 yen range.1
The yen fell against the euro, leading to a strong euro and a weaker yen.3 Market participants continue to be wary of exchange rate intervention by the Japanese authorities.1 Uncertainty around intervention restriction rules is a psychological restraining factor for the yen price.1
Why it matters
Japan's exchange rate intervention is a measure implemented to curb the sharp depreciation of the yen, and the implementation of market intervention requires coordination between the government and the Bank of Japan.1
The 157-yen range is the level noted in the yen market as of August 2026 and is close to the upper end of the range of the past few weeks.4,2
This account was written from the 4 reports listed below, filed by 2 independent outlets, and checked against them line by line. It is not a copy of any one of them. Spotted an error? Tell us.
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