In the New York foreign exchange market on the 17th, the yen was sold in response to the Bank of Japan's decision to maintain large-scale monetary easing, and the yen exchange rate temporarily dropped to the low 135 yen level per dollar.
In the New York foreign exchange market on the 17th, the yen depreciated following the flow of the Tokyo market where the yen was sold after the Bank of Japan decided to maintain large-scale monetary easing at the monetary policy meeting held until the 17th. The appreciation of the dollar has gradually progressed.
As a result, the yen exchange rate temporarily dropped to the low 135 yen level per dollar.
Behind the depreciation of the yen, the Bank of Japan maintains large-scale monetary easing this week while the Fed, the central bank, has stepped up an unusual 0.75% rate hike to curb prolonged inflation in the United States. However, there is a view that the interest rate differential between Japan and the United States will widen by clarifying the attitude of suppressing the rise in long-term interest rates.
Market officials said, "Because the BOJ's response has attracted attention among investors, the difference in the direction of monetary policy between Japan and the US has been noticed as a result of maintaining monetary easing, and while yen sales have strengthened, yields have increased. The dollar has been bought, and there is a view that the yen may weaken further if the long-term interest rates in the United States continue to rise. "