The currency had weakened and reached 144.97 yen per dollar. This occurred in tune with the rest of the currencies before the rise of 1.5% of the dollar this Tuesdayits largest daily percentage increase since March 2020. This increase occurred after the data for inflation from the United States, which stood at 8.3% year-on-year, above the expected 8.1% but below the 8.5% recorded in July.
The expectation is that after this data, the Federal Reserve aggressively increase its interest rate, after the president of the monetary entity, Jerome Powell, insisted that this path be followed until inflation can be controlled. On September 21, the Fed will have its meeting to define steps to follow.
Thus, the japanese currency leaves behind its minimum in 24 years of 144.99 yen per dollar. The rest of the currencies are still behind against the dollar after their rally on Tuesday: the euro climb above parity and stands at 1.0014 dollars, not far from its 20-year low of $0.98 hit last week. The pound lost 1.6% on Tuesday but rises 0.43% on Wednesday and stands at 1.1543 dollarsafter low fuel prices caused a drop in the british inflation in August.
Source: Ambito
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