Yen Briefly Hits Upper 145 Range, Lowest This Year

Yomiuri Shimbun file photo
The Bank of Japan building

The yen exchange rate momentarily dropped to the upper 145 range per dollar on the Tokyo foreign exchange market on Monday, marking the lowest point for the year. This is the first time the exchange rate has fallen to the upper 145 mark since mid-November 2022. Following last week’s announcement of a rise in the U.S. Consumer Price Index, which has boosted expectations the Federal Reserve will continue its monetary tightening, there has been an accelerated trend of buying the dollar and selling the yen.