In the Tokyo foreign exchange market on the 14th, the rate of increase in the consumer price index last month exceeded market expectations in the United States, and there was a growing view that the pace of interest rate hikes would accelerate. It's dropping in price.
In the foreign exchange market, if the rate of increase in the US consumer price index last month, which was announced last night in Japan time, exceeded market expectations, the FRB = Federal Reserve Board will accelerate the pace of interest rate hikes. As the exchange rate strengthened, the yen exchange rate temporarily dropped to the upper half of 147 yen to the dollar, marking the first time since 1990 that the yen has been at a weaker level for the first time in about 32 years.
Later, at a press conference held in Washington, D.C., Governor Kuroda of the Bank of Japan reiterated his stance of continuing monetary easing, and the view that the trend of yen depreciation will not change is spreading.
A market insider said, "Due to differences in monetary policies between Japan and the United States, in addition to the movement to buy the dollar and sell the yen, which has higher interest rates, today is also a day when settlements such as domestic import companies are concentrated, so the yen is depreciating. However, the market is becoming more wary of market intervention by the government and the Bank of Japan."