In the Tokyo foreign exchange market on the 1st, the sense of caution that the central bank of the United States will continue to raise interest rates has eased, and the yen exchange rate has temporarily risen to the 135 yen level against the dollar, and since the end of August this year. The yen has reached the level of appreciation.
Chairman Powell of the Fed = Federal Reserve Board, the central bank of the United States, suggested in a speech on the 30th that the interest rate hike would be reduced at the meeting this month at the earliest.
In response to this remark, the movement to sell the dollar and buy the yen accelerated, and the yen exchange rate rose by more than 2 yen compared to the previous day. The yen reached its highest level since the end of the month.
The yen depreciated to the 151 yen level against the US dollar in late October, but in the past month and a half, the yen has appreciated by about 16 yen.
As of 5:00 pm on the 1st, the yen exchange rate was 136.52 yen to 136.55 yen to the dollar, an increase of 2 yen against the dollar compared to the previous day.
On the other hand, against the euro, the exchange rate rose by ¥1.38 from the previous day, depreciating against the euro to ¥142.2 to ¥142.00.
The euro was 1 euro = 1.0402 to 04 dollars against the dollar.
A market insider said, ``As the yen has been depreciating rapidly, the reaction of investors to the direction of yen appreciation has also become sudden. ``There are also investors who want to continue to carefully monitor economic statistics related to employment and consumption.''