Yen surges in New York to around 158.15 per dollar

2026-07-31

Yen surges sharply

The yen surged in New York foreign exchange trading against the dollar on the afternoon of the 31st, briefly touching around 158.15 per dollar, a stronger yen and weaker dollar level. There were intermittent moves toward further yen strength, and in the market the view is growing that the government and the Bank of Japan carried out yen-buying intervention again after the 30th.

Volatile after 30 intervention

The dollar-yen rate rose by about 5 yen in a short time to 157.80 yen per dollar on the morning of the 30th after large-scale yen-buying intervention by the government and the Bank of Japan. However, it later returned to earlier levels, and by the evening of the same day the yen had weakened further against the dollar to the 160.80 yen range. On the same day, at the direction of the US Treasury, the Federal Reserve Bank of New York asked several banks to conduct rate checks to confirm the exchange rate used when buying and selling currencies.

Expectations of more intervention rise

On the 31st, the US Treasury conveyed to the market the possibility of additional foreign exchange intervention. According to several market participants, it was also learned that the Federal Reserve Bank of New York has been conducting rate checks not only for dollar-yen transactions but also for euro-yen transactions.

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