[The yen hits the biggest one-day drop against the dollar in two months as U.S. bond yields soar to support the dollar]Financial Associated Press, September 7th, the yen against the dollar is set to record its biggest one-day drop in more than two months, because Soaring U.S. Treasury yields supported the dollar against all major developed market currencies. The exchange rate of the yen against the US dollar once fell to 143 yen per US dollar, continuing to hit a new low since 1998, and has fallen nearly 20% so far this year. The separation of the monetary policy of the Bank of Japan and the Federal Reserve has caused the yen to continue to fall. However, although Japanese Finance Minister Toshi Suzuki said last week that wild swings in the yen are not desirable, there is currently no sign that Japan will directly intervene in the market. The last time Japan intervened directly in currency markets to support the yen was in 1998.
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