The depreciation of the yen accelerated within the New York international alternate market on the twenty second, and the yen alternate price briefly fell to the 143 yen degree to the dollar. It has been about seven months since November final yr that the dollar has hit the 143 yen degree.
In addition to the truth that Chairman Powell of the FRB = Federal Reserve Board, which is the central financial institution of the United States, urged in his testimony in Congress that the rate of interest hike could be vital twice extra by the tip of the yr, on the twenty second, the central banks of European international locations With the successive hikes in rates of interest, the distinction within the path of financial coverage between Japan, which has continued to ease financial coverage, and Europe and the United States has turn into acutely aware once more, and the motion to promote the yen and purchase the dollar has strengthened.
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