Now that we're in a new month, it is time to take a peek at how the U.S. dollar is faring against the Japanese yen in Tokyo trading.
Right now, the coronavirus has caused a major dent to Japan travel. Many foreigners are not heading there due to the virus and many venues in Japan have been temporarily closed.
If one happens to have a NASA spacesuit or a "Bubble Boy" protective suit and is going to Japan anyway, here's what The Japan Times is reporting on the current exchange rate:
The dollar recovered to around ¥108.40 after falling below ¥108 in Tokyo trading Monday, with buybacks spurred by action from the Bank of Japan to help financial markets fend off impacts from the spread of the novel coronavirus.
At 5 p.m., the dollar stood at ¥108.45-45, down from ¥108.84-84 at the same time Friday. The euro was at $1.1063-1063, up from $1.0996-0996, and at ¥119.99-99, up from ¥119.67-68.
The ongoing outbreak as well as a dismal reading from China’s manufacturing index sent the dollar below ¥108 in the early morning. But the greenback started heading north after an upturn in the Nikkei stock average prompted by a rare statement by BOJ Gov. Haruhiko Kuroda, who vowed to “provide ample liquidity and ensure stability in financial markets through appropriate market operations and asset purchases.”To read more, go here.
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