In the Tokyo foreign exchange market on the afternoon of the 22nd, the dollar fell to the 162.90 yen range. Bloomberg reported, citing multiple sources, that the Bank of Japan is flexible about accelerating the pace of rate hikes beyond market expectations of roughly once every six months. In response, around 4:30 p.m., the dollar plunged from the lower 163 yen range to as low as 162.67 yen. The BOJ is said to be increasingly wary of the risk that prices will overshoot projections, partly due to the impact of the yen's depreciation.