Dollar

The exchange rate of the yen against the U.S. dollar in the Tokyo foreign exchange market fell to more than 153.8 yen per U.S. dollar on the 15th, a record low in nearly 34 years. Kyodo News reported that interest rate differentials between Japan and the United States prompted investors to sell Japanese yen and buy U.S. dollars. In addition, the latest developments in the situation in the Middle East have also enhanced the appeal of the U.S. dollar as a “safe haven asset.” The consular building of the Iranian Embassy in Syria was attacked by a missile on April 1, killing at least 13 people. Iran and Syria said the attack was carried out by Israel. Iran’s Islamic Revolutionary Guard Corps issued a statement in the early morning of the 14th, announcing that it had launched dozens of missiles and drones at Israeli targets. An Israeli military spokesman said that more than 300 drones and missiles were fired at Israel, and “99%” of them were intercepted. As of 3 pm on the 15th, the Japanese yen exchange rate was…

“The U.S. dollar is our currency, but it’s your trouble” – As the U.S. dollar has been rising against the backdrop of recent declines in expectations of a Federal Reserve interest rate cut, this famous quote from former U.S. Treasury Secretary Connally more than half a century ago seems to be coming back again. It has become a major problem for many policymakers in emerging markets… Many investors in the foreign exchange market have recently been paying attention to whether the Japanese government will intervene to prevent the yen, which has already fallen below the 153 mark, from weakening further. But in fact, in emerging markets, many economies face exchange rate pressures no less than Japan. Some locals said the foreign exchange market has become a key battleground, as the dollar’s recent surge has put tremendous pressure on an increasing number of emerging economies to intervene. Market data shows that as investors continue to buy gold and the US dollar, the MSCI Emerging Markets Index weakened for the third consecutive day on Friday, approaching the low of the year. Almost…