Japanese Yen Falls Below 160 Per Dollar Following Fed Chair Speech
2 sources · Japan
Who reported this
- Kyodo News
- The Japan Times
What the colours mean
- Left
- Centre-left
- Centre
- Centre-right
- Right
- A hatched block means the outlet is affiliated with, or controlled by, a state.
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The Japanese yen briefly fell below 160 per U.S. dollar on Friday in New York. This marks the first time the currency has reached this level since Japan conducted coordinated yen buying with the United States in late July. The decline occurred after a speech by Federal Reserve Chair Kevin Warsh in Jackson Hole, Wyoming, where he suggested that interest rates could be hiked if inflation is not kept in check. This sparked speculation that the interest rate gap between the two countries will widen, which has contributed to the yen's depreciation in recent years. The previous joint market intervention between the U.S. and Japan was the first of its kind in 15 years. Traders are now monitoring yen levels for signs of further authority action to protect the currency.
How each side framed it
- Centre
- Outlets of this lean focused on the economic drivers of the currency drop, specifically the interest rate differential and the impact of the Federal Reserve Chair's remarks.
Sources
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