The Tokyo foreign exchange market on the 20th temporarily dropped to the low 129 yen level per dollar, which was the first depreciation of the yen in 20 years.
However, after that, there was a movement to buy back the yen, and the price movement became large, such as in the low 128 yen range.
In the Tokyo foreign exchange market on the 20th, from the view that the long-term interest rate in the United States will continue to rise and the interest rate differential between Japan and the United States will continue to widen, the movement to buy dollars with higher yields and sell the yen has progressed, and at one point 1 The dollar has fallen to just over 129.40 yen, the lowest level in 20 years since April 2002.
After that, the yen depreciated at a rapid pace, and there was a movement to sell the dollar that had risen once to secure profits and buy back the yen, and the price movement became large, such as in the low 128 yen range. ..
The yen exchange rate as of 5 pm is 67 yen from 128.65 yen, which is 59 yen weaker than the 19th.
On the other hand, against the euro, the yen depreciated by 73 yen compared to the 19th, and the euro has risen from 1 euro = 139.5 yen to 9 yen.
The euro was 1 euro = 1.0808 to 10 dollars against the dollar.
Market officials have reiterated their willingness to continue monetary easing by announcing that the Bank of Japan will implement measures to curb the rise in long-term interest rates until the 26th of this month, but the reaction has been limited so far. Among the homes, attention is being paid to what Treasury Minister Suzuki will meet with US Treasury Secretary Yellen in Washington to discuss the depreciation of the yen. "