China-Singapore Jingwei, July 14th. On the 14th, the U.S. dollar hit the 138 mark against the yen, the highest since September 1998.
The U.S. dollar climbed against the yen Wind screenshot
According to Japanese Kyodo News report, affected by the expected expansion of the interest rate gap between Japan and the United States, the momentum of buying U.S. dollars and selling Japanese yen intensified. On July 11, the exchange rate of the Japanese yen against the U.S. dollar once fell to The range is 137.50-138, a new low in about 24 years.
Bank of Japan Governor Kuroda Haruhiko reiterated that day that "if necessary, we will not hesitate to increase easing measures," which also exacerbated the depreciation of the yen.
Kyodo News Agency reported that in view of the strong US employment data in June, the market generally expects that the US government will continue to raise interest rates significantly. In addition, the ruling party won a big victory in Japan's Senate election. Under the expectation that the central bank will continue to implement large-scale monetary easing policies, the market believes that the interest rate gap between Japan and the United States may widen, and the yen plummets. Domestic import companies also tend to buy U.S. dollars and sell Japanese yen out of actual needs.
Haruhiko Kuroda emphasized at the branch presidents' meeting on the 11th: "If necessary, we will not hesitate to increase easing measures."
Japanese Finance Minister Shunichi Suzuki 12 met with the visiting US Treasury Secretary Yellen in The Ministry of Finance held talks, and the joint statement issued after the talks stated that they would follow the consensus of the Group of Seven (G7) and "closely consult and cooperate properly" in response to the accelerated depreciation of the yen against the U.S. dollar in the foreign exchange market. Suzuki said at a press conference: "I expressed concern about the rapid depreciation of the yen. I gained understanding of Japan's position." (China-Singapore Jingwei APP)
