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Home JAPAN MANUFACTURE NEWS

Yen falls to ¥139 against the dollar, marking fresh 24-year low

by 198 Japan News
July 14, 2022
in JAPAN MANUFACTURE NEWS
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Yen falls to ¥139 against the dollar, marking fresh 24-year low
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The yen continued to fall against the U.S dollar Thursday in Tokyo, hitting a fresh 24-year low at the ¥139 level, as as a stronger-than-expected U.S. consumer price index raised prospects of aggressive rate hikes by the Federal Reserve.

The yen fell to its lowest level against the dollar since September 1998 after overnight data showed U.S. inflation surged to 9.1% in June from a year earlier, rising at the fastest pace in more than 40 years and exceeding the market consensus of 8.8%.

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  • The Bank of Japan is expected to maintain ultra-low interest rates at its next July 20-21 meeting, highlighting a growing divergence with a global wave of rate-hiking central banks that has fueled the yen's slump.
 | REUTERS
  • Electronic quotation boards display the yen's rate of ¥138 level against the US dollar at a foreign exchange brokerage in Tokyo on Thursday. | AFP-JIJI

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