In the Tokyo foreign exchange market on the 21st, following the meeting of the Fed = Federal Reserve, speculation that monetary tightening in the United States will be prolonged spread, and there was a movement to sell the yen and buy the dollar, and the yen temporarily fell to the mid-1 dollar = 148 yen range, renewing the yen's depreciation level since November last year.
In the Tokyo foreign exchange market on the 21st, there was widespread speculation that the tightening of monetary policy in the United States would be prolonged after the median level of interest rates at the end of next year was raised from the previous forecast in the policy rate outlook of the participants of the Fed meeting presented on the 20th.
As long-term interest rates in the United States rose further and the movement to buy dollars intensified in awareness of the widening interest rate differential between Japan and the United States, the yen temporarily fell to the mid-1 dollar = 148 yen range, setting a new level for the weakest yen since November last year.
However, when Chief Cabinet Secretary Matsuno said that he would not rule out all options for excessive fluctuations, there was a move to sell dollars and buy back the yen out of caution about the government and the Bank of Japan's intervention in the market.
As of 11 p.m., the yen was 5 sen weaker than on the 20th, 11 dollar = 1 yen 148 ~ 24 sen.
On the other hand, against the euro, the euro weakened by 26 sen yen compared to the 20th, and the euro depreciated by 38 euro = 1 yen 157 ~ 96 yen.
The euro was 158 euro = 1.1~0655 dollars against the dollar.
A market participant said, "Investors are interested in the outcome of the Bank of Japan's Monetary Policy Meeting to be announced tomorrow and the content of Governor Ueda's press conference, hoping to ascertain future market movements."