Monday, 11 December 2023

Yen gains as traders await interest rate fluctuations


Japanese yen rose against the dollar for the fourth session in a row on Tuesday, with investors anticipating the possibility that the Bank of Japan will tighten monetary policy next year while the Federal Reserve (the US central bank) will ease it.

According to Reuters, the dollar reached its lowest level since mid-September at 147.16 yen, and recorded in its latest transactions a decline of 0.61% to 147.45.

On a broader scale, the dollar index, which measures the performance of the US currency against six major currencies, fell to its lowest levels since the end of August to 103.17, and in its most recent transactions fell 0.13% to 103.32.

اقرأ المزيد

The euro rose to its highest levels since mid-August to $1.0966 on Tuesday, and in its most recent transactions it rose slightly to $1.0944.

The British pound increased 0.2% to $1.253 after reaching a two-month high of $1.254.

The Chinese yuan also rose to its highest level in four months to 7.13 against the dollar.