Economic
Friday, 14/10/2022, 10:15 (UTC)

The yen continued to fall deeply to 147¥ against 1$, the lowest ever in the past 32 years

In the foreign exchange market, the growth rate of the US consumer price index last month was announced on the night of the 13th, Japan time. That index has exceeded market expectations and the FRB (US Federal Reserve Board) will accelerate rate hikes as expected, leading to the yen exchange rate temporarily touching a new roughly 147 yen for 1 dollar level - the first time that the yen had been this weak since 32 years ago in 1990. 


Later, at a press conference in Washington, D.C., Bank of Japan Governor Kuroda reiterated his stance to continue monetary easing, leading to the view that the trend of yen depreciation will not change.


An investment market insider said, "According to the speeches of Finance Minister Suzuki and Governor of the Bank of Japan Kuroda in Washington, USA, there is currently no impact from the Japanese government on the Yen exchange rate, but the market is still highly wary of the Japanese government's intervention in the market.” 



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