Yen exchange rate falls to 1 dollar = 140 yen level, the lowest yen level in 24 years

In the New York foreign exchange market on the 1st, the yen exchange rate dropped to the 140 yen level against the US dollar, the lowest level in 24 years since August 1998.

There is growing speculation that the Federal Reserve Board, the central bank of the United States, will decide to raise interest rates significantly at its meeting this month to curb record inflation.

For this reason, there is a growing awareness of the widening interest rate differential between Japan and the United States, and there is a growing trend to sell the yen and buy the dollar, which is expected to yield higher yields.