Yen rises past ¥130 per dollar for 1st time in 7 months
12:56 JST, January 3, 2023
TOKYO (Jiji Press) — The yen strengthened past ¥130 per dollar in thin trading on Tuesday, during the New Year holiday period in Japan, crossing the threshold for the first time in seven months.
The Japanese currency has been backed by expectations that the Bank of Japan could further revise its monetary easing policy after it modified the yield curve control policy in December, which market participants viewed as an effective rate hike.
At 11:10 a.m. Tuesday, the dollar traded at ¥130.20-30 after earlier slipping below ¥130.
In 2022, the yen tumbled as low as near ¥152 per dollar, hitting a 32-year low versus the greenback amid monetary tightening in the United States.
"Business" POPULAR ARTICLE
-
Japan, U.S., Philippines to Strengthen Nickel Supply Chains; Reduce Reliance on China for Critical Minerals
-
Shinkansen to Have Private Rooms by FY 2026, JR Tokai Announces
-
Survey: 80% Worried About Recognizing AI as Patent Inventor; Respondents Fear Increase in Unverified Inventions
-
Ride-Sharing Services Start in Tokyo; Kanagawa, Aichi, Kyoto, Others To Follow Suit
-
Japan’s Docomo To Sell Contactless Smart Rings; Users Can Make Payments at the Wave of a Hand
JN ACCESS RANKING
- M6.0 Earthquake Hits Japan’s Tohoku Region; Fukushima, Iwate, Miyagi Prefectures Observe 4 on Japanese Scale With No Risk of Tsunami
- China Mutes Memorialization of Reformer Hu Yaobang; Memories Could Spark Critique of Xi Administration
- Shinkansen Services Suspended After Man ‘Searches for Phone’ on Tracks; Disruption Affects About 14,000 Passengers
- U.S. 7th Fleet officer Arrested on Suspicion of Stealing Sushi, Sashimi, Chicken at Kanagawa Shopping Mall; Suspect Caught Mid-Meal
- UNRWA Director Describes Catastrophic Destruction in Gaza; Says Relief Trucks Robbed, ‘People’s Hearts Destroyed’