On the 18th, the yen weakened in the New York foreign exchange market, and the yen exchange rate temporarily fell to the low 149 yen level to the dollar, marking the lowest level of yen depreciation in about 32 years.
On the 18th, in the New York foreign exchange market, the U.S. government continued to raise interest rates to curb record-breaking inflation. I was.
As a result, the yen exchange rate temporarily dropped to the 149.30 yen level against the dollar, marking the first time since 1990 that the yen has depreciated against the dollar for the first time in about 32 years.
Recently, in the foreign exchange market, there is a growing trend to sell the yen, which has low interest rates against other currencies, and the yen has fallen to the low 147 yen level against the euro for about 7 years and 10 months. The yen depreciated to the euro's highest level for the first time.
The Japanese government and the Bank of Japan intervened on the 22nd of last month to sell the dollar and buy the yen, but the yen's depreciation has not stopped, and the market is interested in whether further intervention will be carried out. increase.
A market insider said, "Although there is a sense of caution about intervention ahead of the psychological milestone of 150 yen to the dollar, long-term interest rates in the United States continue to rise, so the interest rate gap between Japan and the United States has widened. There is also a growing view that the effect of intervention will be limited, and the depreciation of the yen cannot be stopped."