Japan: Yen rises against dollar, hits 14-month high

September 16, 2024_ The Japanese yen rose against the US dollar on Monday, September 16, hitting a peak of 139 yen per dollar, its highest level in more than a year. The appreciation was fueled by expectations that the US Federal Reserve may significantly lower interest rates on September 17 and 18. Over the past two months, the exchange rate has risen by more than 20 yen, from 161 yen per dollar to 139 yen. The current situation reflects a change in the currency market, where investors are preferring to buy yen due to the narrowing of the interest rate differential between Japan and the United States. The news was reported by 毎日新聞. The yen-dollar exchange rate is crucial to the Japanese economy, influencing exports and the competitiveness of Japanese companies in international markets.