The US dollar briefly rose above 161.90 against the Japanese yen, then rapidly fell to 161.20, and the exchange rate subsequently rebounded to 161.65. Japanese officials have stated that they are closely monitoring market trends. Last Friday, the US dollar against the Japanese yen reached its highest weekly closing price in 40 years, as the end of the Iran War did not bring relief. The rise earlier today broke through the June high of 161.80, but the intraday high of 161.94 in July 2024 was not breached. As the Ministry of Finance faces challenges, yen trading has entered a period full of variables.
