In the New York foreign exchange market on the 18th, in response to the rise in long-term interest rates in the United States, there was a movement to buy dollars and sell yen, and the yen exchange rate temporarily dropped to a level approaching 127 yen per dollar, about 19 The yen depreciated against the dollar for the first time in 11 months.
In the New York foreign exchange market on the 18th, in response to the rise in long-term interest rates in the United States, there was a move to buy dollars with higher yields and sell yen.
As a result, the yen's exchange rate temporarily dropped to a level approaching 127 yen per dollar, and since May 2002, the yen has renewed its depreciation level for the first time in about 19 years and 11 months.
In the background of the depreciation of the yen, in the United States, monetary tightening is expected to accelerate in order to curb inflation, while in Japan, the Bank of Japan has shown its willingness to continue large-scale monetary easing measures. Therefore, there is a growing view that the interest rate differential between Japan and the United States will widen.
Market officials said, "As international crude oil futures prices are on the rise again, there is a view that dollar buying to buy crude oil will intensify. In the market, how far the yen will depreciate is in the United States. It is expected to depend on how much long-term interest rates will rise, and there is a lot of interest in it. "