In the New York foreign exchange market on the 17th, the view that monetary tightening will be prolonged in the United States spread, and the yen price temporarily fell to the latter half of the 1 dollar = 149 yen range due to the rise in long-term interest rates.
In the New York foreign exchange market on the 17th, the yen temporarily fell to the latter half of the 1 dollar = 149 yen range.
On this day, the US retail sales for the last month were released that exceeded market expectations, leading to the view that the US economy is strong and that monetary tightening to contain inflation will be prolonged.
As a result, long-term interest rates in the United States rose, and at one point, they exceeded 4.85%, so there was a movement to sell yen and buy dollars with higher yields.
On the New York stock market, the stock price of Nvidia, a major US semiconductor manufacturer, fell sharply by more than 7% at one point compared to the previous day's closing price, as selling orders increased in semiconductor-related stocks following the Biden administration's announcement that it would tighten export restrictions on semiconductors to China.
On the other hand, the closing price of the Dow Jones Industrial Average was slightly higher at $13,11.3, 3997.65 cents higher than the previous day, due to a mix of buying and selling due to many investors wanting to ascertain the future of the Israeli-Palestinian situation.
Market participants said, "Many investors are expecting President Biden to visit Israel on the 18th, and market interest is gathered."