The Japanese yen weakened to the 150 level against the US dollar at one point during Tokyo trading on Thursday. It is the first time the currency has dropped to this level in 32 years.
The yen has now depreciated about 30 percent against the dollar this year. Investors are speculating that the US Federal Reserve will continue to raise key interest rates to tackle the country's decades-high level of inflation.
That briefly pushed the yield on long-term US bonds to 4.1 percent on Wednesday.
The prospect of a wider gap between Japanese and US interest rates is accelerating yen selling, as investors seek higher yields in the United States.
The yen has now depreciated about 30 percent against the dollar this year. Investors are speculating that the US Federal Reserve will continue to raise key interest rates to tackle the country's decades-high level of inflation.
That briefly pushed the yield on long-term US bonds to 4.1 percent on Wednesday.
The prospect of a wider gap between Japanese and US interest rates is accelerating yen selling, as investors seek higher yields in the United States.
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Summary
Japanese Yen weakens to 150 against USD for first time in 32 years, dropping approximately 30% this year. This is due to speculation about US Federal Reserve's continued key interest rate increases to combat decades-high inflation. Consequently, the yield on long-term US bonds rose to 4.1%. The
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ID: 41e597fe-ffeb-4301-91f8-6863e83cb7a2
Category ID: nhk
URL: https://www3.nhk.or.jp/nhkworld/en/news/20221020_31/
Date: Oct. 20, 2022
Created: 2022/10/21 07:23
Updated: 2025/12/09 12:31
Last Read: 2022/10/21 10:12