In the Tokyo foreign exchange market on the 29th, the movement to sell dollars and buy yen accelerated due to the sense of caution about the recession in the United States, and the yen exchange rate temporarily rose by more than 3 yen to the mid-132 yen level per dollar. The yen appreciated and the dollar weakened.
In the Tokyo foreign exchange market on the 29th, the GDP = gross domestic product growth rate announced in the United States on the 28th became negative for the second consecutive quarter, and the sense of caution about the recession in the United States suddenly increased. I did.
As a result, the movement to sell the dollar and buy the yen accelerated, and the yen exchange rate temporarily rose by more than 3 yen, and the yen appreciated rapidly to the mid-132 yen level per dollar.
It is the first time in about a month and a half since the 17th of last month that the dollar has reached the 132 yen level.
The yen exchange rate fell to the 139 yen level per dollar in the middle of this month, reaching the yen's depreciation level for the first time in about 24 years, but then the yen appreciated and the dollar depreciated.
In the last two weeks, the yen has strengthened and the dollar has weakened by more than 6 yen.
Market officials said, "In the New York market on the 28th, long-term interest rates fell due to concerns about the outcome of GDP and the possibility that the pace of interest rate hikes in the United States would slow down. Aware of the narrowing of interest rate differentials, the movement to sell dollars and buy yen is rapidly increasing. "