In the Tokyo foreign exchange market on the 29th, yen selling became dominant due to the widening interest rate differential between Japan and the United States, and the yen gradually depreciated to the upper 144 yen level to the dollar toward the evening.
The yen exchange rate at 5:00 pm was 12 sen compared to the 28th, and the yen depreciated against the dollar at 144.67 to 68 sen.
Against the euro, it was 1.22 yen compared to the 28th, and 1 euro = 139.67 yen to 71 yen due to the depreciation of the yen against the euro.
The euro was 1 euro = 0.9654 to 56 dollars against the dollar.
A market insider said, ``When the central bank announces that it will purchase government bonds against the backdrop of concerns about the deterioration of the British government's finances, which has announced a large tax cut, buying orders will spread to US government bonds, and US long-term interest rates will fall. On the other hand, there was also a view that the effects of the purchase of government bonds by the British central bank would be temporary, and long-term interest rates in the United States were on an upward trend again, raising awareness of the widening interest rate differential between Japan and the United States. The yen gradually depreciated," he said.