In the Tokyo foreign exchange market and the yen exchange rate on the 22nd, the movement to buy the dollar, which is expected to have a higher yield, has intensified due to the widening interest rate differential between Japan and the United States, and the price has dropped to the 136 yen level per dollar.
The yen exchange rate as of 5 pm was JPY 136.23 to JPY 25, which is a depreciation of JPY 1.1 compared to the 21st.
With respect to the euro, the yen depreciated by 36 yen compared to the 21st, and the euro rose from 1 euro = 143.10 yen to 14 yen.
The euro was 1 euro = 1.0504 to 06 dollars against the dollar.
Market officials said, "Because of the difference in the direction of monetary policy between the Bank of Japan, which continues large-scale monetary easing, and the United States, which is rushing to tighten monetary policy, we are aware of the widening interest rate differential between Japan and the United States, and bought a dollar that is expected to yield higher yields. Investors are interested in the content of the testimony given by Chairman Powell of the FRB (Federal Reserve Board) in the Senate tonight, Japan time, to determine the pace of future US interest rate hikes. We are gathering. "