In the New York foreign exchange market on the 11th, the yen exchange rate temporarily hit the upper 125 yen level per dollar, and the yen depreciated to the highest level in about 6 years and 10 months.
With the rise in long-term interest rates in the United States, the movement to sell the yen and buy the dollar, which is expected to yield more, has intensified.
In the New York foreign exchange market on the 11th, the yen exchange rate temporarily hit the 125.70 yen level per dollar in the morning, and the yen depreciated to the highest level for the first time in about 6 years and 10 months.
The FRB = Federal Reserve Board, the central bank of the United States, has sold US government bonds in the bond market from the perspective of accelerating monetary tightening, and long-term interest rates have risen to the 2.7% level. Aware of the widening interest rate differential, the movement to sell yen and buy dollars, which are expected to yield more, has intensified.
Market officials said, "On the 12th, US consumer prices will be announced last month, but depending on the content, there is a growing view that monetary tightening to curb inflation will accelerate, and the yen will weaken and the dollar will strengthen further. Many investors are wary of this. "