In the Tokyo foreign exchange market on the 11th, the beginning of the week, speculation about the monetary policies of Japan and the United States strengthened the movement to buy yen and sell dollars, and the yen appreciated to the upper 146 yen level to the dollar.
In the United States, in response to the worsening unemployment rate in the employment statistics released on the 8th of this month, there is an awareness of easing the labor shortage that has been a factor of inflation, and the Federal Reserve Board of Governors (Federal Reserve System) plans to lower interest rates by the end of the year. There is growing speculation that this will happen.
On the other hand, in Japan, there are speculations that the Bank of Japan will soon take a major shift in monetary easing measures, such as lifting negative interest rates, and in the Tokyo market on the 11th, there was an awareness of the narrowing of the interest rate differential between Japan and the United States. , the yen appreciated against the dollar.
As of 5 p.m., the yen exchange rate was 1.14 yen compared to last weekend, or 1.75 yen to the dollar, from 146.73 yen to the dollar.
On the other hand, the exchange rate against the euro was 1 yen 13 sen compared to last weekend, and the yen appreciated and the euro weakened from 1 euro = 160 yen 54 sen to 58 sen.
The euro was 1 euro = 1.0941 to $43 against the dollar.
A market source said, ``Ahead of the Bank of Japan's monetary policy meeting next week, investors are focusing on how much wage increases will be confirmed in the spring labor union, which will be the day for concentrated responses the day after, as well as the U.S. inflation rate that will be announced this week. "We are gathering information on the results of statistics related to this," he said.
Yen exchange rate as of 5pm
▼1 dollar = 146 yen 73 sen to 75
sen Compared to last weekend 1 yen 14 sen strong yen, weak dollar
▼1 euro = 160 yen 54 sen to 58
sen compared to last weekend 1 yen 13 sen strong yen euro weak