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Yen Strengthens Against the Dollar as U.S. Economic Concerns Weigh on Markets; Interest Rate Cut Expectations Drive Investors to Sell Dollars and Buy Yen
Reuters file photo Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023.
By Yasuhiro Kobayashi / Yomiuri Shimbun Correspondent
14:57 JST, February 22, 2025
NEW YORK — The New York market saw a stronger yen and declining stock prices on Friday due to concerns over the future of the U.S. economy. The yen temporarily rose to the 148 range against the dollar. This represented the strongest yen and the weakest dollar in about two and a half months.
U.S. long-term interest rates fell amid expectations that the Federal Reserve will implement interest rate cuts to support the economy. This led to a narrowing of the interest rate differential between Japan and the U.S., prompting investors to sell dollars and buy yen.
