The Dollar Gained Against the Yen After the U.S. Federal Reserve Showed Signs of Raising Interest Rates Further

The dollar rose to 120 yen, its highest level in more than six years after Federal Reserve Chairman Jerome Powell signaled that the Fed could tighten monetary policy further by raising interest rates by more than 0.25% to curb inflation.

Kyodo News reports that the dollar rose from 119.43-119.53 yen to 119.88-119.89 yen in the New York trading market at 5:00 p.m. yesterday.

The euro is hovering around $1.0994-1.0995 and 131.80-131.82 yen, up from $1.010-1.1020 and 131.57-131.67 yen in the New York market yesterday afternoon.

The baht closed at 33.51 and was very volatile during the day before rebounding against the region, supported by capital inflows.

A treasury manager at Bank of Ayudhya reported that the baht closed at 33.51 baht per dollar this evening, up from 33.66 baht per dollar in the morning. Throughout the day, the baht moved in a range of 33.45 – 33.70 baht per dollar.

“Today, the baht fluctuates very much in a wide range with morning depreciation by region. But it has increased very quickly in the afternoon. It is expected that the flow of capital will increase,”

the treasury manager said.

Money managers estimate tomorrow’s range of movement of the baht at 33.40 – 33.65 baht per dollar. Factors to watch include the tendency to adjust the interest rate of the US Federal Reserve (Fed), the oil price situation on the world market and the war situation between Russia and Ukraine.

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