2023-09-13 00:59:00
(Source=Newsis/NEWSIS)
[서울=뉴시스]Reporter Jaejun Lee = The Japanese yen exchange rate started to fall to the 1 dollar = 147 yen range on the 13th due to yen selling and dollar buying taking precedence due to the forecast that the Federal Reserve’s financial tightening will continue to widen and the interest rate gap between the U.S. and Japan will widen. In the Tokyo foreign exchange market, the yen exchange rate was 1 dollar = 147.13 to 147.14 yen at 8:30 a.m. on this day, down 0.33 yen compared to 5 p.m. the previous day. Observations that Japan’s trade deficit is expanding due to high international oil prices are also encouraging yen selling. On the 12th, the New York crude oil futures price temporarily hit $89.37 per barrel, the highest since mid-November of last year. It is expected that rising oil prices will exert inflationary pressure and prolong the Federal Reserve’s financial austerity measures. Increasing demand from Japanese import companies to sell yen and buy dollars due to high oil prices is also encouraging the yen to fall. The yen exchange rate was traded at 147.24 to 147.26 yen per dollar, down 0.44 yen or 0.29% at 9:51 am. In the foreign exchange market in Sydney, Australia, the yen exchange rate followed the overseas market trend and started at 1 dollar = 147.00 to 147.10 yen, down 0.50 yen compared to the previous day. Previously, on the 12th (local time) in the New York foreign exchange market, the yen exchange rate fell and closed at 147.00 to 147.10 yen per dollar, 0.50 yen lower than on the 11th. As oil prices rise, there is widespread speculation that inflationary pressure in the United States will increase. As the prospect of rising U.S. interest rates grew, yen selling and dollar buying were active, conscious of the widening interest rate gap between the U.S. and Japan. However, unilateral selling of the yen was refrained from the atmosphere of waiting to see the results ahead of the announcement of the U.S. Consumer Price Index (CPI) in August on the 13th. In the Tokyo foreign exchange market, the yen is falling sharply against the euro. At 9:50 a.m., 1 euro = 158.43 to 158.45 yen, down 1.17 yen from the previous day. The euro is rising against the dollar. At 9:50 a.m., 1 euro = $1.0760 to $1.0762, up $0.0048 from the previous day. ☞ Sympathetic media Newsis yjjs@newsis.com <저작권자ⓒ 공감언론 뉴시스통신사. 무단전재-재배포 금지.>
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