The yen exchange rate, which was the last transaction in the Tokyo foreign exchange market, dropped slightly to the low 115 yen level.
The yen exchange rate as of 5 pm was 115.11-13 yen, which is 23 yen weaker and the dollar stronger than the previous day.
With respect to the euro, the yen depreciated by 45 yen compared to the previous day, and the euro was 1 euro = 130.27-31 yen.
The euro was 1 euro = 1.1317 to 18 dollars against the dollar.
Market officials said, "The fear of the economic impact of Omicron stocks has eased somewhat, and today there is a move to sell the yen, which is considered to be relatively low risk. Investors are over the situation in Ukraine where tensions continue. There is growing interest in the whereabouts of the telephone talks between the leaders of the United States and Russia. "
This year's yen exchange rate
The yen exchange rate this year is in the range of 102 yen to 115 yen per dollar, and the yen has depreciated by about 11% in one year compared to the end of last year.
At the beginning of the year, the yen, which is said to have a relatively low risk due to the spread of the new corona infection, was bought, and it started at one point in the high 102 yen range per dollar.
However, after that, the yen continued to be easy to sell against the backdrop of the economic recovery in the United States, and in March the price dropped to the 110 yen level per dollar.
From October, the Fed, which is the central bank of the United States, will respond to the new corona, and the market will gradually reduce quantitative easing and raise interest rates, so the interest rate differential between Japan and the United States will widen. Since then, the yen has weakened and the dollar has strengthened at a rapid pace.
Then, in November, the dollar hit the 115 yen level for the first time in 4 years and 8 months.
While the depreciation of the yen has the advantage of boosting the performance of export companies, it also has the disadvantage of increasing the cost of importing oil and various raw materials, but this time the price of crude oil and other prices has soared, so the disadvantage is greater from experts. Some have pointed out that there is concern about a "bad yen depreciation."
In the future, while the United States is heading to raise interest rates, the Bank of Japan has indicated that it will continue large-scale monetary easing measures in Japan, so there is a view that the yen will continue to be easy to sell against the backdrop of widening interest rate differentials between Japan and the United States. It has come out.