Today we're in a new month and it is time to see how the U.S. dollar is faring against the Japanese yen in foreign exchange.
Since we are now in autumn, it is a good time to visit Japan as the summer heat has ended. This is why checking on the exchange rate between the dollar and yen is of interest to American travelers.
According to Reuters (Japan edition):
[TOKYO, October 1, Reuters] - The dollar was trading in the low 158 yen range at 3 p.m., higher than the close of trading in New York the previous day. Following the release of the September Tankan survey and the main opinions from the September Bank of Japan meeting, expectations of further interest rate hikes have receded, leading to dollar buying and yen selling. The dollar rose by nearly 1 yen, reaching its highest level in about a week.
The dollar, which had been trading in the low 157 yen range in the morning, gradually rose. The Bank of Japan's Tankan survey for September showed that the business sentiment index (DI) for large manufacturers improved to +24 for the sixth consecutive quarter, while that for large non-manufacturing companies deteriorated to +35 for the first time in five quarters .
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