In the New York foreign exchange market on the 24th, the movement to buy dollars and sell yen became stronger, and the yen exchange rate temporarily dropped to the 122 yen level, which is the highest level of yen depreciation in 6 years and 3 months.
In the New York foreign exchange market on the 24th, long-term interest rates are on the rise in the United States, so the movement to buy dollars and sell yen has intensified.
As a result, the yen's exchange rate temporarily dropped to the 122 yen level per dollar, and the yen depreciated to the highest level in 6 years and 3 months since December 2015.
In the foreign exchange market, the yen has been depreciating and the dollar has been appreciating recently. Clarifying, it is sometimes seen that the interest rate differential between Japan and the United States will widen further.
Market officials said, "The situation in which the dollar, which is the key currency, is easy to buy continues against the backdrop of the situation in Ukraine, and it is difficult to predict how far the yen will weaken and the dollar will strengthen."