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  • Yen Gyrates Lower as Japan Goes for Weak Yen, Higher Government Bond Yields, but Moves Must Be Orderly

Yen Gyrates Lower as Japan Goes for Weak Yen, Higher Government Bond Yields, but Moves Must Be Orderly

November 14, 2023

by Wolf Richter Wolf Street

They will never hand full control over yields to the market.

The yen dropped to ¥151.92 per $1 earlier today, approaching within a hair the intraday low of October 2022, then rebounded sharply to 151.22, but then fell again to 151.72 at the moment.

Finance Minister Shunichi Suzuki said earlier today that the government would monitor the situation and respond appropriately. And that was the response. The chart show hourly increments: