The New York foreign exchange market on the 16th has started to sell yen and buy dollars against the backdrop of rising long-term interest rates in the United States, and the yen exchange rate has temporarily hit the upper 114 yen level per dollar for about 4 years and 8 years. The yen depreciated for the first time in a month and the dollar fell to a high level.
In the New York foreign exchange market on the 16th, the movement to sell yen and buy dollars continued slowly.
As a result, the yen's exchange rate temporarily hit the upper 114 yen level per dollar and fell to the highest level of the yen's depreciation for the first time in about 4 years and 8 months since March 2017.
The depreciation of the yen is due to the fact that US government bonds are being sold in the bond market due to concerns about inflation, and long-term interest rates are rising, so there is a movement to buy dollars with higher interest rates.
"In the United States, the dollar continues to be easy to buy due to prolonged inflation," said a market source.