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Sunday, November 20, 2016

Dollar Rises Against Yen After U.S. Election

It appears that the November 8 election results is benefiting U.S. travelers to Japan.

The Asahi Shimbun reported:
The decline in the value of the yen and the rise in stock prices both accelerated in Tokyo financial markets on Nov. 18, continuing their respective trajectories following the Nov. 8 U.S. presidential election. 
The Nikkei 225 index temporarily topped 18,000 for the first time since Jan. 7, marking a 10-month high. 
The yen also fell to the range between 110.50 and 111.00 to the dollar for the first time since June 1 as yen-selling and dollar-buying increased on expected growth in the U.S. economy. 
Stock prices and long-term interest rates rose further in U.S. financial markets on Nov. 17, reflecting expectations of U.S. President-elect Donald Trump’s economic policies.
Prior to the election, the U.S. dollar was mired around ¥104 in Tokyo trading.

To read more, go here

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