The Japanese yen fell to its lowest level in more than 7 years against the euro on Monday (September 9), reaching the midpoint of its trading range at 144 yen per euro, following the European Central Bank’s (ECB) decision to raise its key interest rate to a record 0.75% yesterday (September 8).
The ECB’s decision to raise interest rates has pushed the yen to its lowest level against the euro since January 2015.
The ECB raised the deposit rate to 0.75%, the refinancing rate to 1.25% and the interest rate to 1.50%, effective September 14.