The Japanese yen weakened on the New York foreign exchange market on Tuesday, briefly sinking to the 150 level against the US dollar. That is a low not seen since last November.
The drop comes as investors are buying back the dollar after the US Labor Department released the consumer price index in January earlier in the day.
The growth in the CPI was above market expectations, making more investors speculate that the US Federal Reserve will not lower interest rates early.
The drop comes as investors are buying back the dollar after the US Labor Department released the consumer price index in January earlier in the day.
The growth in the CPI was above market expectations, making more investors speculate that the US Federal Reserve will not lower interest rates early.
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Summary
Japanese yen weakened to a low of 150 against USD on Tuesday due to increased dollar buying, following the release of January's US Consumer Price Index data. The CPI growth exceeded market expectations, suggesting that the US Federal Reserve may not lower interest rates early.
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ID: 31e9ff8b-1c1c-434a-b68f-c69ccd14f2a5
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20240214_03/
Date: Feb. 14, 2024
Created: 2024/02/14 06:30
Updated: 2025/12/08 17:44
Last Read: 2024/02/14 14:58