Prime Minister Fumio Kishida held a 30-minute meeting with Bank of Japan Governor Haruhiko Kuroda at the prime minister’s office on the 9th. They discussed the fact that the yen exchange rate was at the 144 yen level to the dollar at one point, the first time in 24 years that the yen had depreciated and the dollar had strengthened. Kuroda told reporters after the meeting. Sudden exchange rate fluctuations are “unfavorable in the sense that they increase future uncertainty.”
(Source: Nihon Keizai Shimbun)
Regardless of the content of the talks, actively appealing that the Prime Minister and the Governor of the Bank of Japan are discussing the exchange market would be effective as a psychological pressure on overseas traders. Given that it is the weekend, it is expected that the liquidation of yen selling positions will continue.