In the Tokyo foreign exchange market on the 10th, there was a move to buy back the dollar that had been sold recently, and the yen exchange rate fell to the low 146 yen level to the dollar.
In the recent foreign exchange market, the speculation that the Republican Party is winning in the midterm elections in the United States has spread the view that the Democratic Biden administration will find it difficult to pursue policies that could lead to inflation, such as large-scale fiscal spending. continued to be sold.
However, as the Republican Party did not have as much momentum as the market had expected, and the majority of the election was not known, there was a move to buy back the dollar in the Tokyo market on the 10th.
The yen exchange rate as of 5:00 pm was 146.30 yen to 146.31 yen, which is 80 yen weaker against the dollar than on the 9th.
On the other hand, against the euro, 1 euro is 146.26 yen to 146.30 yen, which is 19 yen higher than the 9th.
The euro was 1 euro = 0.9997 to 99 dollars against the dollar.
A market insider said, "When it was reported that Bank of Japan Governor Kuroda met with Prime Minister Kishida and explained that the current monetary easing would be continued, there was a renewed awareness of the widening interest rate differential between Japan and the United States, and there was some movement to buy the dollar. However, since the market's attention is focused on the US consumer price index, which will be released tonight in Japan time, many investors were taking a wait-and-see approach."