Yen Sinks To 24 Year-Low Against The Dollar

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.

Keep in mind that while the news is good for U.S. travelers on the foreign exchange front, Japan is still imposing restrictions on foreign travel. People are shunning group tours to Japan. 

According to The National:

The yen dropped to its lowest since 1998 as an overnight surge in Treasury yields heaped more pressure on the currency, prompting a warning from a Japanese government official that did little to stem the tide.

The yen fell as much as 0.5 per cent to 139.68 per dollar in Thursday trading in Tokyo ― a fresh 24-year low and a hair’s breadth from the key psychological level of 140.

To read more, go here. 

And, from Jiji Press:

Tokyo, Aug. 31 (Jiji Press)--The dollar rose back to levels around 138.60 yen in Tokyo trading Wednesday.

At 5 p.m., the dollar stood at 138.59-60 yen, up from 138.45-45 yen at the same time Tuesday.

Under Japan's travel restrictions, Americans don't want to take advantage of the highly favorable currency exchange rate.

To read more, go here.