The dollar-yen moved strongly today, surpassing the levels of 160.00 for the first time since 1990.
The Japanese yen fell to 160 yen against the US dollar in morning trading on Monday during the Asian trading period before falling again and reaching the outskirts of the levels of 155.00.
The volatility of the Japanese yen today may reflect the volatility of the markets amid weak liquidity, and it is unlikely that we will receive comments from Japanese officials today about the intervention of the Japanese central bank in the markets due to the fact that Japan is on holiday today.
The Japanese authorities have repeatedly warned against excessive movements in the yen rate, but have not made any official announcements about strengthening the currency. Some market observers had suspected that the authorities would intervene at the 155 level, but the yen retreated beyond this level last week.
It is worth noting that most of the previous interventions have a limited effect as long as the US dollar is strong and may again start to rise above the intervention levels.
