The Bank of Japan’s interventions in the currency market have produced the desired effect on the dollar-yen rate.

After hitting an intraday low of 115.80 yen on Sept. 20, the dollar has climbed past one key threshold after another and is now hovering above 120 yen, a level unseen since last month’s terrorist attacks in the United States.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.