The exchange rate of the Japanese yen against the US dollar has fallen to a new low

Due to ongoing tensions in the Middle East and rising international oil prices, the Japanese yen to US dollar exchange rate in the New York foreign exchange market once fell to 163.96 yen per US dollar on the 23rd Eastern Time, hitting a new low. Analysts believe that ongoing tensions in the Middle East have driven up international oil prices, intensifying inflation concerns in the market. Investors’ expectations of an early interest rate hike by the US are rising, leading to a stronger US dollar and further pressure on the yen. Previously, on the 21st Eastern Time, the yen to US dollar exchange rate once fell to 163.18 yen per US dollar, hitting the lowest level since December 1986. (Xinhua News Agency)