In the Tokyo foreign exchange market on the 23rd, the yen's exchange rate temporarily dropped to the 121 yen level per dollar due to the depreciation of the yen in the overseas market on the 22nd.
In the London market on the 22nd, the yen exchange rate fell to the 121 yen level per dollar, and the yen depreciated for the first time in 6 years and 1 month since February 2016.
In response to this trend, the Tokyo foreign exchange market on the 23rd also started to sell yen and buy dollars, and the transaction is centered on the low 121 yen level per dollar.
Market officials said, "While the Bank of Japan maintains large-scale monetary easing measures, senior Fed officials in the United States have made positive statements to raise interest rates one after another. There is a growing movement to buy dollars with expected yields and sell yen. "