In the foreign exchange market on the 22nd, the movement to sell the yen and buy the dollar continued from the view that the pace of interest rate hikes in the United States will accelerate, and the yen exchange rate temporarily hit the 121 yen level per dollar, the first time in 6 years and 1 month. The yen depreciated to the high level of the dollar.
In the foreign exchange market on the 22nd, the movement to sell the yen and buy the dollar has intensified from the view that the pace of rate hikes by the US Fed = Federal Reserve Board will accelerate.
As a result, the yen exchange rate temporarily dropped to the 121 yen level per dollar in the London market, and the yen depreciated to the highest level for the first time in 6 years and 1 month since February 2016.
The BOJ maintains large-scale monetary easing measures behind the depreciation of the yen, while the Fed, which raised interest rates last week, further accelerates the pace of interest rate hikes, further widening the interest rate differential between Japan and the United States. Then it may be seen.
Market officials said, "The dollar, which is the key currency, continues to be easy to buy against the backdrop of the situation in Ukraine, which also contributes to the depreciation of the yen."