According to the Kyodo News Agency, the exchange rate of the Tokyo foreign exchange market has fallen to $ 149.18 on the 26th, the lowest level since October 2022.
Market participants believe that the directional differences between Japan and the United States' currency policy are the main reasons for the decline of the yen exchange rate.
The Bank of Japan announced on the 22nd that it will continue to implement super loose monetary policy, maintain a short -term interest rate at 0.1%, and purchase long -term national debt to maintain long -term interest rates around zero.At the same time, the Fed released the signal that may continue to raise interest rates after the Monetary policy meeting ended on the 20th. Members of the Federal Public Marketing Committee expect that the appropriate level of the federal fund interest rate at the end of the year will be 5.6%.In this context, the long -term interest rate difference between Japan and the United States has expanded to the highest level in 10 months, and the pressure on the depreciation of the U.S. dollar has increased.
Japanese Financial Minister Suzuki Suzuki said at a press conference held on the 26th that the government is focusing on the fluctuation of exchange rates with a high sense of urgency and will adopt appropriate action to respond to the rapid fluctuations in exchange rates, which will not rule out any options for excessive fluctuations in exchange rates.
With the depreciation of the yen to the lowest point of this year, the market's expectations for the Japanese government and the central bank's intervention in the foreign exchange market are also strengthening.In September 2022, the Bank of Japan fell to the yen to US $ 1 US dollars to conduct exchange rate intervention that bought yen and sold US dollars at 145 yen.
