Yen strengthens after BOJ chairman signals further interest rate hikes Even though the market fluctuates

Yen strengthens after Bank of Japan president Send a signal to increase interest rates further. Even if the market fluctuates Investors are also keeping an eye on the statement from the Fed chairman.

On August 23, 2567, Reuters news agency reported that The Yen strengthened in today's trading. This is because investors responded to the move of Mr. Kazuo Ueda, Chairman of the Bank of Japan (BOJ), who addressed parliament to explain the issue of the unexpected interest rate increase last month. And investors are still keeping an eye on the statement of Mr. Jerome Powell, Chairman of the Federal Reserve (Fed), today.

The yen rose 0.5% to 145.58 yen against the US dollar.

The dollar index, which measures the dollar's movement against a basket of major currencies, fell 0.11% to 101.35 points, after rising 0.34% in the previous session. This is close to the 2567 low of 100.92 points on Wednesday (21 August) and remains in a downtrend for the fifth week in a row.

Mr. Ueda told the Japanese parliament that the BOJ was committed to raising interest rates. If inflation moves as expected

Ms Charu Chanana, Currency Strategist at Saxo in Singapore Said Mr. Ueda remains open to further interest rate increases. At the same time, be careful. This is because taking into account the turbulence in the market that occurred after the last interest rate increase. This signals that the BOJ will not change its mind on further interest rate hikes. This is despite the uncertainty in the market.

refer : reuters.com

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