On the 11th of the week, the yen depreciated further in the Tokyo foreign exchange market, and the yen exchange rate temporarily dropped to the low 137 yen level per dollar.
The yen has been depreciating for the first time in about 24 years since September 1998.
In addition to the view that the LDP won a big victory in the House of Councilors election held on the 10th and that large-scale monetary easing will continue, the Bank of Japan's Governor Kuroda held a branch managers' meeting on the 11th. We will take additional monetary easing measures without any measures. ”I was aware of the difference in the direction of monetary policy with the United States, which is accelerating monetary tightening.
For this reason, there is a growing movement to sell yen and buy dollars with higher yields.