The Japanese yen paired with the U.S. dollar fell to another 30-year low. The current quote in USDJPY is 149.94. The devaluation of the yen is in full swing and now it is really scaring the monetary authorities in Japan. The situation is clearly out of control.

This morning the Central Bank said it was ready to urgently buy USD 667 million worth of government bonds in order to stabilize the situation in the debt market. The decision was probably made after the yield on ten-year government bonds rose to 0.225%, which exceeded BoE targets.

According to the Prime Minister of Japan, the country’s economy is facing external risks and realizing the consequences of foreign events. Now the Japanese authorities are preparing a package of measures to stimulate the economic system and probably within it will be decided on the amount of spending.

Earlier the monetary authorities conducted a large-scale currency intervention of 2.84 trillion yen. The measures had a short-term effect.