According to CoinMeta, a strategist at Sumitomo Mitsui ds Asset Management named Masahiro Ichikawa stated that if the Japanese government demonstrates its commitment to fiscal discipline and maintains an appropriate pace of interest rate hikes by the Bank of Japan, then there will be no need for repeated interventions in the exchange rate to prevent further depreciation of the yen. He added that although government interventions usually struggle to change the overall market trend, the recent interventions were effective because they successfully halted the rapid and disorderly decline of the yen against the US dollar to the 164 level.