The Japanese Yen Exchange Rate Hits A 15-Year Low

US President Biden nominated Jerome Powell as the chairman of the Federal Reserve Council (Fed), and the dollar buying market has strengthened. The yen is facing a sell-off. On the 23rd, the yen-dollar exchange rate once fell to 115 yen per dollar, a four-year low.

The depreciation of the yen is related to Powell’s re-election as the chairman of the Fed. Since the chairman of the Fed has not been returned, it has alleviated the market’s anxiety about the future financial policy, and expected the direction of US interest rate hikes to remain unchanged, causing funds to increase their holdings of dollars and sell off. Japanese Yen. Yen-to-dollar exchange rate fell to 115 yen to the dollar, a four-year and 8-month low since March 2017.

The Japan Broadcasting Association (NHK) reported that although the depreciation of the yen is good for exports, the recent high crude oil prices will not be able to depress crude oil import prices. It is necessary to carefully assess the impact of the depreciation.

 

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The Japanese Yen Exchange Rate Hits a 15-Year Low - /10

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US President Biden nominated Jerome Powell as the chairman of the Federal Reserve Council (Fed), and the dollar buying market has strengthened. The yen is facing a sell-off. On the 23rd, the yen-dollar exchange rate once fell to 115 yen per dollar, a four-year low.

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