Forex
Yen Falls to Upper 183 Range Against Euro Amid Japan-US Rate Differential and Middle East Tensions
The yen fell against both the dollar and euro in Tokyo foreign exchange trading on the 14th, due to expectations that the Japan-US interest rate differential will remain wide.
Persistently high crude oil prices also weighed on the yen, as Japan is a resource-importing nation. The dollar-yen pair was at 159.47-49 yen as of 8:30 a.m., down 11 sen from the previous day's level.
The euro-yen pair fell to 183.90-93 yen, down 23 sen from the previous day's level. The European Central Bank raised its policy rate by 0.25 percentage point on the 11th, marking its first rate hike in two years and nine months.