Examples of Japanese yen banknotes are displayed at a National Printing Bureau factory that produces Bank of Japan banknotes during a media event in Tokyo, Japan, November 21, 2022.
17:59 JST, October 23, 2024
TOKYO (Jiji Press) — The dollar rose above ¥152 to hit another three-month high in Tokyo trading on Wednesday, supported by higher U.S. Treasury yields.
At 5 p.m., the U.S. currency stood at ¥152.35-35, compared with ¥151.00-01 at 5 p.m. Tuesday.
The purchase of dollars was prompted by a widening interest rate differential between Japan and the United States, as U.S. Treasury yields rose amid growing views that former U.S. President Donald Trump is more likely to win the presidential election next month win. Trump’s victory is expected to worsen the US budget situation and increase inflationary pressures.
“There are movements pricing in Trump’s presidential victory,” said an official at a major brokerage firm.
