Japanese yen and US dollar banknotes are seen in this illustration photo taken on September 23, 2022.
13:01 JST, November 14, 2024
Tokyo, Nov 14 (Jiji Press) – The dollar briefly climbed above ¥156 in Tokyo trading just before noon on Thursday, hitting its highest level in almost four months.
A new round of yen selling and dollar buying was fueled by speculation about a widening interest rate differential between Japan and the US, market sources said.
US long-term holdings rose on market concerns that the US fiscal situation will worsen due to massive tax cuts and other measures promised by newly elected President Donald Trump, with the Republican Party taking control of both houses of Congress and in addition to winning the presidential seat .
“The dollar could rise to ¥160 by the end of the year as Trump’s policies are likely to trigger inflation,” a think tank official said.
At noon, the dollar stood at ¥155.99-99, compared to ¥155.10-11 at 5 p.m. Wednesday.
