Dollar Solid At ¥122 Following Interest Rate Hike

The .25% interest rate hike by the Federal Reserve yesterday was a positive move (although a long time in coming) as it should spur more investment, which in turn, make more money available to borrowers.

It was also beneficial to the exchange rate between the U.S. dollar and Japanese yen in Tokyo trading.

According to Jiji Press:

Tokyo, Dec. 17 (Jiji Press)--The dollar stayed solid around 122.50 yen in Tokyo trading on Thursday, powered by an overnight decision by the U.S. Federal Reserve to raise interest rates for the first time in more than nine years.

The Tokyo dollar/yen exchange rate was hovering around ¥120 during the past several days.

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