JPY-USD Exchange Rate Falls Below 140 Yen for the First Time in 14 Months

The yen-dollar exchange rate temporarily fell below the 140 yen level on the afternoon of the 16th in the Asian foreign exchange market due to yen appreciation.

[Image source=Yonhap News]

On that day, the yen-dollar exchange rate fluctuated around 140.5 yen in the morning. After noon, it showed a downward trend and dropped to 139.99 yen at around 1:09 PM.

The yen-dollar exchange rate recording the 139 yen level is the first time in 14 months since July of last year.

The yen-dollar exchange rate once exceeded the 160 yen level in early July, but has recently been falling due to yen appreciation.

Local media reported that speculation has spread that the U.S. Federal Reserve (Fed) may cut the benchmark interest rate by up to 0.5 percentage points at the Federal Open Market Committee (FOMC) meeting on the 17th-18th (local time), leading to a dominant movement of buying yen and selling dollars.