US dollar rises to 160 yen for first time since late April

Axios (Tổng hợp từ english.kyodonews.net)

The US dollar rose to 160 yen on Monday for the first time since late April, its highest in a month. Analysts cite the Fed's higher-for-longer rate stance versus the Bank of Japan's easy policy as the main driver, widening the interest rate gap. Japan previously intervened at 160 yen in April but has not yet acted this time.

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The US dollar rose to 160 yen in trading on Monday, reaching that level for the first time since late April. This marks the highest exchange rate in a month, reflecting significant volatility between the two major currencies.

According to analysts, the main driver of this rally is market expectations that the Federal Reserve will keep interest rates higher than previously anticipated, while the Bank of Japan maintains its accommodative monetary policy. The interest rate differential has strengthened the dollar against the yen.

Japan intervened in the foreign exchange market in late April when the rate touched 160 yen, but no official intervention has been recorded so far this time. Investors are closely watching for any reaction from the Japanese government.

The current exchange rate is hovering around 160.12 yen per dollar.

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