In the Tokyo foreign exchange market on the 6th, there was a growing movement to sell the yen and buy the dollar, conscious of the widening interest rate differential between Japan and the United States, due to the view that the US interest rate hike could continue at a high level. has dropped by more than 2 yen at one point.
In the foreign exchange market, after a leading American newspaper reported on the 5th that the Federal Reserve, the central bank, may raise interest rates to higher levels than investors expected next year, interest rates in Japan and the United States will continue to rise. Aware of the widening gap, there was a growing movement to sell the yen and buy the dollar.
The yen exchange rate temporarily fell by more than 2 yen from the 5th, trading at the 137 yen level to the dollar.
The yen exchange rate at 5:00 pm was 136.94 yen to 136.95 yen to the US dollar, depreciating by 1.82 yen compared to the 5th.
Against the euro, 1 euro was 143.65 yen to 143.69 yen, a 1.26 yen depreciation and a 1.26 yen appreciation compared to the 5th.
The euro was 1 euro = 1.0490 to 91 dollars against the dollar.
A market insider said, ``The economic indicators released on the 5th showing the business confidence of the US non-manufacturing industry exceeded expectations, and there was a view that interest rate hikes would be prolonged in order to cool the economy to some extent. The prospects for future interest rate hikes in the United States are still uncertain, and the direction of yen appreciation and yen depreciation is not clear."