In the Tokyo foreign exchange market on the 12th, the movement to sell the yen and buy the dollar became stronger in response to the rise in long-term interest rates in the United States, and the yen depreciated to the upper 125 yen level.
In the Tokyo foreign exchange market on the 12th, there is a growing movement to sell the yen and buy the dollar, which is expected to yield more, from the view that the interest rate differential between Japan and the United States will widen in response to the rise in long-term interest rates in the United States.
In the morning, when Minister of Finance Suzuki said at a press conference that he would like to keep an eye on the trends in the foreign exchange market with a sense of tension, investors took it as a statement to restrain the depreciation of the yen. At one point, the yen exchange rate started to rise to the low 125 yen level.
However, after that, the movement of yen selling and dollar buying became stronger again, and the price dropped to the upper 125 yen level.
The yen exchange rate as of 5 pm is 53 yen from 125.52 yen, which is 28 yen weaker than the 11th.
With respect to the euro, the yen has risen by 19 yen and the euro has depreciated from 1 euro = 136.44 yen to 48 yen compared to the 11th.
The euro was 1 euro = 1.0870 to 71 dollars against the dollar.
Market officials said, "The yen continues to be easy to sell due to the rise in long-term interest rates in the United States. The consumer price index of the United States last month will be released tonight in Japan time, but the rate of price increase is higher than expected. If the price is high, there is a sense of caution that the yen will weaken and the dollar will strengthen further. "