On the 2nd, in the New York foreign exchange market, last month's employment statistics in the United States showed that the labor market was strong, so expectations that interest rates would be cut soon faded, and the yen depreciated, causing the yen to temporarily decline. The price has fallen to the 148 yen level per dollar.
At the New York foreign exchange market on the 2nd, the yen depreciated in response to last month's U.S. employment statistics, and the yen exchange rate temporarily fell to the 148 yen level to the dollar.
Last month's employment statistics in the United States showed that growth in the number of employed people and average hourly wages exceeded market expectations, leading to a widespread perception that the labor market is strong, and the view that interest rates will be cut soon has diminished, leading to a decline in the number of employed people and average hourly wages. Interest rates have risen.
As a result, people became aware of the widening interest rate differential between Japan and the United States, and there was a strong movement to sell yen and buy dollars.
A market source said, ``Investors were surprised by the growth in the number of employed people and average hourly wages, given that there was a view that the labor market was becoming less tight recently. There is a growing sense that the Governing Council may be cutting rates later than expected."