The yen surged again against the dollar, and at one point it was over 1 yen even at 157.30 yen against the euro

July 13, 2024 12:26 AM GMT+9 (some excerpts)

At the New York Foreign Exchange Market on the morning of the 12th, the yen temporarily skyrocketed by just under 2 yen to 157 yen 30 yen against the dollar, hitting a high for the first time in about a month. Continuing from the day before, yen buying intervention observations by the government and the Bank of Japan spread again in the market. It also rose by about 1 yen against the euro.
On this day, after the US Department of Labor announced the wholesale price index for June, the price rose in a short time from the latter half of 158 yen. Since the same index rose moderately, it boosted US interest rate cut observations. It was easy for yen to be bought against dollars. Since then, it has continued to rise and fall violently.