In the New York foreign exchange market on the 19th, the yen depreciated against the dollar due to the rise in long-term interest rates in the United States, and the yen exchange rate fell to a level approaching 129 yen per dollar, renewing the yen's depreciation level for the first time in about 20 years. Did.
In the New York foreign exchange market on the 19th, US government bonds were sold in the bond market, and long-term interest rates temporarily rose to the 2.9% level for the first time in about 3 years and 4 months, so we can expect higher yields by selling yen. The movement to buy dollars has intensified.
For this reason, the yen exchange rate temporarily dropped to a level approaching 129 yen per dollar, and the yen depreciated for the first time in about 20 years.
The yen's depreciation is accelerating as the yen's exchange rate has fallen by more than 5 yen against the dollar compared to the 5th of this month two weeks ago.
In the background, there is a growing view that the interest rate differential between Japan and the United States will widen due to the difference in the direction of monetary policy between the United States, which is expected to accelerate monetary tightening, and Japan, which is willing to continue large-scale monetary easing measures. You may.
Market officials said, "The Fed, the central bank of the United States, is holding back inflation, so there is a growing sense of caution about accelerating the pace of monetary tightening, and long-term interest rates continue to rise. It is difficult to see how far the Fed will go. "