The yen weakens again, approaching 159 JPY per USD
According to Japan's ANN News, reported on September 25: The foreign exchange market sees another depreciation of the yen. The currency has fallen to its lowest level in three weeks, reaching a range of 1 USD = 159 JPY.
Market expectations suggest the U.S. may raise interest rates earlier than anticipated, driven by stronger-than-expected economic indicators from the United States and growing inflation concerns fueled by a surge in crude oil futures prices.
Given the widening yield differential between Japan and the United States, traders have increased selling of the yen and buying of the dollar. On September 24, the yen briefly weakened to 1 USD = 159 JPY—the weakest level in about three weeks—on the New York foreign exchange market.
Market participants note that the Japanese government and the Bank of Japan may consider intervening in foreign exchange markets once again.
Original source: toutiao.com/article/1877268936648716/
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