The yen is gradually depreciating in the Tokyo foreign exchange market.

The yen exchange rate recently fell to the 144 yen level to the dollar, and is more than 2 yen weaker than yesterday, when it was at the 141 yen level.

Chairman Jerome Powell of the Federal Reserve, the US central bank, said in a speech on September 30 that he was “in no hurry” to cut interest rates in the future.

If the economy progresses as expected, interest rates will be gradually lowered, and the market’s expectations for a significant rate cut have receded, leading to a move to sell the yen and buy the dollar.