In the Tokyo foreign exchange market on the 8th of the week, the US employment statistics exceeded market expectations, and the FRB = Federal Reserve Board, which is the central bank, is expected to accelerate the pace of interest rate hikes, selling the yen. As a result, the yen exchange rate temporarily fell by more than 2 yen from last weekend.
The U.S. employment statistics for last month, which were announced at the end of last week, were more favorable than expected by the market. As the movement to sell yen and buy dollars spread, the yen exchange rate temporarily fell by more than 2 yen compared to last weekend.
The yen exchange rate at 5:00 pm was 134.98 to 135 yen to the dollar, depreciating by 1.68 yen compared to last weekend.
Against the euro, the exchange rate was ¥137.79 to ¥137.79 to ¥137.83, depreciating by ¥1.38 from the end of last week.
The euro was 1 euro = 1.0208 to 10 dollars against the dollar.
A market insider said, ``In response to the strong employment statistics in the United States, the Fed's meeting to decide monetary policy in September also has the prevailing view that it will continue to raise interest rates as much as it did in June, and the dollar will continue to rise. “Buying has increased,” he said.