The depreciation of the yen further accelerated in the New York foreign exchange market on the 6th, and the yen exchange rate temporarily dropped to the 143 yen level to the dollar, marking the first time since 1998 that the yen has been at a weaker level for the first time in about 24 years.
The US non-manufacturing business sentiment index released on the same day exceeded market expectations, prompting widespread speculation that the US economy would remain solid and that significant interest rate hikes would continue.
As a result, long-term interest rates in the United States have risen, and there has been a growing awareness of the widening interest rate differential between Japan and the United States.