By 15:30 local time, the exchange rate temporarily reached 126.00-126.02 yen per dollar.
The U.S. dollar exchange rate against the Japanese yen on Wednesday reached its highest level in the last 19 years and 11 months. This is evidenced by the data of currency trading.
By 15:30 local time, the exchange rate temporarily reached 126.00-126.02 yen per dollar, having added 0.4% since the beginning of the day. The last time the dollar/yen exchange rate reached this level was in May 2002.
According to NHK, amid expectations that the difference in monetary policy between the Central Bank of Japan and the U.S. Federal Reserve will continue to grow, investors continue to actively sell the yen, which leads to a strengthening of the dollar.
The weakening of the national currency against the dollar is beneficial to Japanese large companies and corporations focused on foreign markets.