In the Tokyo foreign exchange market on the 7th, the yen exchange rate temporarily dropped to the low 132 yen level per dollar, the lowest level in about 20 years.
As concerns over the slowdown in the US economy have eased and long-term interest rates in the US have risen, there is a growing movement to sell the yen and buy the dollar, which is expected to yield more.
Market officials said, "In the United States, a series of economic indicators that exceeded market expectations have eased concerns about a slowdown in the economy, and long-term interest rates have started to rise again. While there is a growing view that tightening will accelerate, in Japan, the Japanese bank has made it clear that it will continue monetary easing, so the yen is depreciating further with awareness of widening interest rate differentials between Japan and the United States. " ..