NY market temporarily renewed the yen’s depreciation level for the first time in about 24 years in the latter half of the 137-yen level

In the New York foreign exchange market on July 11^th, the yen was sold due to the observation that large-scale monetary easing would continue for the time being following the big victory of the LDP in the Japanese parliamentary election, and the yen exchange rate was temporarily 1 dollar = 137-yen. The price dropped to the latter half of the dais, and the yen depreciated for the first time in about 24 years.

In the New York foreign exchange market on July 11^th, there was a movement to sell the yen and buy the dollar, and the yen exchange rate temporarily dropped to 137.75 yen per dollar, renewing the yen’s depreciation level for the first time in about 24 years.

One of the backgrounds is the observation that large-scale monetary easing will continue for the time being in Japan following the big victory of the Liberal Democratic Party in the Upper House Election, and that the interest rate differential with the United States, which accelerates monetary tightening.

Market officials said, “I was reminded of the difference in the direction of monetary policy between Japan and the United States. This week, the consumer price index that affects monetary policy in the United States will be released on July 13^th, attracting the attention of investors.

Source: https://www3.nhk.or.jp/news/html/20220712/k10013712801000.html