In the Tokyo foreign exchange market on the 25th, the movement to buy the dollar and sell the yen intensified against the backdrop of the rise in long-term interest rates in the United States, and the yen exchange rate temporarily reached the highest level of the yen depreciation for the first time in 6 years and 3 months1 The price has dropped to the 122 yen level.
In the Tokyo foreign exchange market on the 25th, the US Federal Reserve Board has made clear its stance to accelerate the pace of interest rate hikes, and the US economic index released on the 24th was also strong, so the US long term Interest rates have risen and 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.
The yen exchange rate as of 5 pm was 121.73-75 yen, which is 11 yen weaker and the dollar stronger than the 24th.
With respect to the euro, the yen depreciated by 65 yen compared to the 24th, and the euro was 1 euro = 134.17-21 yen.
The euro was 1 euro = 1.1022 to 24 dollars against the dollar.
Market officials said, "In addition to the widening interest rate differential between Japan and the United States due to the decision to raise interest rates in the United States, the dollar buying, which is said to be strong in an emergency, is being conscious of as the situation in Ukraine becomes more serious. However, the movement to sell the dollar and buy the yen has spread in an attempt to secure the profit of the rapidly depreciating yen and the dollar, and in the afternoon, there was a scene where the yen strengthened and the dollar weakened. "