Forex
Yen Hits Record Low Against Dollar Amid Middle East Tensions
The Japanese yen has hit a new low against the US dollar on the New York foreign exchange market, falling to as low as 163.96 yen per US dollar on July 23rd Eastern Time.
This marks another record low for the yen, following its previous dip to 163.18 yen per US dollar on July 21st Eastern Time, which was the lowest level since December 1986.
Analysts attribute the yen's decline to ongoing tensions in the Middle East and rising international oil prices, which have strengthened investor expectations for an early interest rate hike in the United States.