Intervention in the yen exchange rate has failed, pushing the yen once again toward 160
According to a May 15 report by Japanese media outlet Yomiuri Shimbun: On May 14, the yen weakened again in the New York foreign exchange market, while the US dollar strengthened.
The yen-to-dollar exchange rate fell as low as the 1 USD = 158.40 JPY range. This marks the second time in two weeks that the yen has declined since the Japanese government and Bank of Japan intervened in foreign exchange rates on April 30.
During the April 30 period and the Golden Week holiday, the Japanese government used 1 trillion yen (approximately 6.5 billion USD) to intervene in the yen's exchange rate. To explain this move, the Japanese government specifically addressed U.S. Treasury Secretary Bessent during his visit.
Given that the current shortage of oil remains unresolved, artificial measures in Japan's bond and exchange rate markets are unlikely to halt the downward trend.
Original article: toutiao.com/article/1865208903220234/
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