2023-08-13 23:39:00
The yen is hovering around the psychological milestone of 145 yen to the dollar once morest the dollar. The yen has been weighed down by the large difference in interest rates between Japan and the United States, and the yen is likely to see a year-to-date low.
The yen was almost unchanged at 144.98 yen as of 6:47 am Japan time on the 14th. Investors are wary of the possibility of sudden market fluctuations following the long holidays in Japan.
If the yen breaks below its year-to-date low of ¥145.07, it will enter the realm of late 2022, when Japan’s monetary authorities intervened in the foreign exchange market.
The yen was under selling pressure last week as 10-year Japanese government bond yields fell below 0.6% while US 10-year yields hovered above 4%.
Original title:Yen Within Sight of This Year’s Low on Wide Japan-US Yield Gap(excerpt)
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