In the Tokyo foreign exchange market on the 11th of the week, the yen exchange rate fell to the upper 112 yen level per dollar, and the yen depreciated to the highest level for the first time in 2 years and 10 months.
At the beginning of the week, the Tokyo foreign exchange market on the 11th was increasingly buying dollars with higher interest rates as US government bonds were sold in the New York market last weekend and long-term interest rates rose.
As of 5 pm, the yen depreciated by 83 yen against the dollar, from 112.78 yen to 80 yen, the highest level in 2 years and 10 months.
With respect to the euro, the yen depreciated by 1.26 yen compared to last weekend, which is 1 euro = 130.53 yen to 57 yen.
The euro was 1 euro = 1.1574 to 75 dollars against the dollar.
Market officials said, "U.S. employment data released last weekend raised average hourly wages, and continued rises in crude oil prices raised concerns about inflation, raising long-term interest rates in the United States. Therefore, awareness of the widening interest rate differential between Japan and the United States has expanded the movement to buy dollars and sell yen. "