2023-11-17 10:26:36
Exchange 2023/11/17(Fri) 19:35
Dollar-yen temporarily at 149.30 level, continues to decline = London exchange rate
In London morning trading, the dollar-yen pair continues to look for a downside. Recently, the low has extended to the 149.30 level. The cross yen has also fallen, giving the appearance of a strong yen. Euroyen updated its low to around 162.19. After hitting a low around 185.32 early on, the pound-yen price has declined slightly and is now trading around 185.70.
This week, there were signs of dollar selling, such as a slowdown in the growth of the US consumer price index, as well as a series of weak British economic indicators, comments by ECB officials suggesting that interest rate hikes should be halted, and the short-term money market’s outlook for next year. The situation appears to be relatively inviting for yen repurchases, including expectations that interest rates will be cut early. Although the Bank of Japan is firmly maintaining its easing stance, there is a possibility that it may reconsider its negative interest rate policy depending on the developments in next year’s spring labor union. With expectations that the other currency’s interest rate hikes will be halted or that interest rates will be cut early, there appears to be a possibility that the interest rate differential between Japan and the US, Japan and Europe, etc. will be shaken.
USD/JPY 149.37 EUR/JPY 162.28 GBP/JPY 185.70
Author: MINKABU PRESS
This is an editorial department that writes articles on market information and financial products such as stocks and FX, mainly for the asset formation information media “Minkabu” and the investor information media “Kabutan.” We provide a wide range of news and columns useful for investing, as well as content for beginners.
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