In the Tokyo foreign exchange market on the 8th, the beginning of the week, the yen depreciated to the low 149 yen level to the dollar, as speculation regarding monetary policy in Japan and the United States led to a move to sell the yen and buy the dollar.
In the foreign exchange market, last week in the United States, a series of indicators indicating the strength of the economy were announced, leading to a widespread view that the Federal Reserve (Federal Reserve System) will be delayed in starting interest rate cuts.
On the other hand, domestically, while there is a growing belief that the Bank of Japan will reverse its large-scale easing measures at its meeting that began on the 18th, there is also a growing consensus that the accommodative financial environment will continue even after the switch is made.
As a result, people became conscious of the difference in interest rates between Japan and the United States, and there was a strong movement to sell yen and buy dollars, causing the yen exchange rate to fall to the low 149 yen level to the dollar.
As of 5 p.m., the yen exchange rate was 55 sen compared to last weekend, a weaker yen and a stronger dollar, from 149 yen to 12 sen to 14 sen.
On the other hand, against the euro, it was 78 sen compared to last weekend, and the yen was weaker and the euro was stronger, from 1 euro = 162 yen and 43 sen to 47 sen.
The euro was 1 euro = 1.0892 to $93 against the dollar.
A market source said, ``Investors' attention has already shifted to the future direction of the Bank of Japan's monetary policy after its policy change, including the framework of monetary policy and the pace of interest rate hikes, and they are paying close attention to tomorrow's decision and Governor Ueda's remarks at the press conference. are gathering," he said.
Yen exchange rate as of 5pm
▼1 dollar = 149 yen, 12 sen to 14
sen Compared to last weekend, yen is 55 sen, weaker to the dollar
▼1 euro = 162 yen, 43 sen to 47
sen Compared to last weekend, yen is 78 sen, weaker to euro