Institution: The Bank of Japan has successfully maintained market stability, but the yen continues to fluctuate within a weak range.

Golden Ten Data reported on June 17 that after announcing its policy decision, the Bank of Japan successfully maintained relative stability in the financial markets, with the yen exchange rate remaining within a narrow range at a historical low. On Tuesday, the intraday fluctuation of USD/JPY was only 0.43 yen, marking the smallest fluctuation on the final day of a Bank of Japan meeting since January 2021. On Wednesday morning, the USD/JPY rate remained above 160, close to the level in late April when Japan’s Ministry of Finance intervened to support the yen. Given this threshold, investors are still closely monitoring the possibility of further intervention, especially since Japanese Finance Minister Shunichi Katayama has repeatedly stated that his team is ready to step in again if necessary. Strategists at Mitsubishi UFJ commented: “Given the ongoing verbal intervention from Ministry of Finance officials, many investors remain vigilant about the risk of actual foreign exchange intervention. Therefore, we continue to expect USD/JPY to fluctuate within a certain range.”