How Is The Dollar Faring Against The Japanese Yen?

Above, Osaka Castle. Photo by Armand Vaquer.

Not since the outbreak of COVID-19 hit the world have I taken a peek at how the U.S. dollar is faring against the Japanese yen in Tokyo.

There really was no point to it since Japan shut its borders to foreign visitors (which is still the case, for the most part). Now that Japan is beginning to open up a tad, out of curiosity, I decided to see what the exchange rate is at present.

Well, according to Jiji Press:

Tokyo, June 9 (Jiji Press)--The dollar fell below 108 yen in Tokyo trading on Tuesday, reflecting a drop in Japanese stock prices and a decline in U.S. long-term interest rates. 

At 5 p.m., the dollar stood at 107.92-92 yen, down from 109.49-53 yen at the same time Monday.

While the exchange rate in the ¥107-109 range isn't great, I am actually surprised that the rate isn't worse than it is. We'll see how things go in the upcoming months.

To read more, go here.