Japanese Yen Weakens Again Despite Government Intervention

On June 3, the Japanese yen fell to an exchange rate of 160 yen per U.S. dollar in the Tokyo foreign exchange market. According to Jin10, this follows a previous low of 160.7 yen per dollar on April 30. In response to the yen's depreciation, the Japanese government and central bank intervened by purchasing yen and selling dollars. This intervention initially strengthened the yen to around 155 yen per dollar. However, the yen has weakened again recently.