The Japanese yen has rapidly strengthened, with the USD/JPY weakening from 150 to around 148 in just a few minutes. Analysts speculate that this may be due to foreign exchange rate intervention by Japan.

The significant volatility in the yen's value stems from Japanese authorities wanting to support a yen that has become too weak. In the past year, Japan has intervened in the currency markets to the tune of $42.8 billion, buying time to stabilize its currency. Additionally, economic data from the United States has influenced Japan's decision to intervene in the yen's value once again.

The U.S. JOLTS job openings data exceeded expectations, rising to 9.61 million in August, higher than the anticipated 8.8 million. Furthermore, the yield on 10-year U.S. government bonds surged to 4.74%, reaching a new high not seen since 2011, exerting continuous pressure on the yen's value.