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The Japanese yen hits year-to-date high against the dollar

[11/09/2024 01:45]

TOKYO-SABA
The Japanese yen hit its highest level since the beginning of the year against the dollar, today, Wednesday, with the first debate between US presidential candidates Kamala Harris and Donald Trump.

The yen also received a boost thanks to comments from Bank of Japan Board member Junko Nakagawa, who confirmed in a speech today that the central bank will continue to raise interest rates, if the economy and inflation move in line with its expectations.

The dollar fell 0.68 percent to 141.50 yen, while the euro rose 0.16 percent to $1.1038, recovering from an overnight drop to $1.10155 for the first time since Aug. 19.

Sterling rose to $1.3089 after falling to $1.3049 in the last session, its lowest level since Aug. 21.

The dollar index, which measures the greenback's performance against six rival currencies, fell 0.15 percent to 101.49 after rising to a one-week high of 101.77 on Tuesday.