We're now in a new month, commonly known as May Day.
As such, it is time to take a peek at how the U.S. dollar is faring against the Japanese yen in Tokyo foreign exchange trading. This is especially of interest to those Americans planning to travel to Japan.
According to Japan Today:
The yen rose sharply on Friday, briefly reaching the mid-155 level from the lower 157 range, amid a cautious mood a day after an around 5 yen surge overnight on possible intervention.
At 4 p.m., the dollar fetched 155.91-92 yen, compared with 156.58-68 yen in New York and 160.13-15 yen in Tokyo at 5 p.m. Thursday.
Japan's top currency diplomat, Atsushi Mimura, on Friday declined to comment on the foreign exchange market intervention, saying, "I have no intention to comment on such matters." On Thursday, the Japanese currency surged nearly 5 yen to the 155 zone against the dollar within hours.
To read more, go here.
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