Dollar-yen exchange rate 161falls to the yen level, as Japanese investment in assets expands
The dollar-yen exchange rate 162broke below the yen line and, as of 2 p.m. 9min. 161.492fell to yen. Japan’s policy of expanding investment in domestic financial assets and remarks from officials that respected central-bank independence added upward pressure on the yen.
10In Tokyo’s foreign-exchange market, the dollar-yen exchange rate 162broke below the yen line. As of 2 p.m. 9min. from the previous session, it was down 0.53% and traded at yen.161.492)
At one point during the session, dollar-yen 161.293fell to yen, widening its losses. It had moved sideways in the morning, then the decline accelerated right after the stock market opened.
Japan’s announcement that it would expand investment in domestic financial assets put upward pressure on the yen. In addition, remarks by some officials to the effect that they respect central-bank independence also affected the exchange rate.
In the market, there was an assessment that the phrase “we will support investment in financial assets” boosted demand for yen. The article did not specify the scale or timing of any concrete increase in investment.
The move was especially clear during trading hours in the Tokyo foreign exchange market that day. The article did not include other market reactions or any additional comments from the central bank.
In summary, 7month 10day in the Tokyo market, dollar-yen fell below the 162yen level, with the Japanese government’s policy stance and remarks by officials cited as the backdrop.
Sources: 연합인포맥스
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