The Japanese yen has strengthened against the US dollar. The current USDJPY exchange rate stands at 156.33.
The yen owes its local boost to the decline of the US dollar. Despite the absence of significant market statistics, investor speculations that the Federal Reserve may lower the interest rate sooner than expected led to the dollar's fall.
Japan's Finance Minister Shunichi Suzuki has expressed satisfaction with the results of the interventions in late April and early May. These operations in the foreign exchange market were carried out to smooth out disorderly fluctuations in the national currency.
Earlier, official data showed that the Japanese authorities allocated 9.79 trillion yen (62.2 billion USD) for interventions, quite a significant financial volume. Incidentally, interventions at this level were confirmed for the first time.
The Japanese government constantly mentions that it is monitoring the situation in the currency market and will act if necessary.