We're now in a new month and although Japan has decided to keep their tourism freeze on, despite having a big drop in new coronavirus cases, it is time to see how the U.S. dollar is faring against the Japanese yen in Tokyo foreign exchange trading.
Well, it looks good (even though we can't go there to take advantage of the rate).
Reuters reports:
TOKYO, Nov 1 (Reuters) - The dollar traded near a 2 1/2-week high to major peers on Monday as quickening inflation in the United States boosted the case for earlier Federal Reserve interest rate hikes.
It approached a 1 1/2-week top to the yen after the safe-haven Japanese currency weakened as a strong showing for the ruling party in weekend elections reduced political uncertainty.
The dollar index, which measures the greenback against six rivals, was little changed at 94.166, hovering close to Friday’s peak of 94.302, a level not seen since Oct. 13.
The U.S. currency bought 114.175 yen, gaining 0.13% from the end of last week. Above 114.41 would be the strongest since Oct. 20, the day it hit a multi-year high of 114.695.
To read more, go here.
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