Yen Exchange Rate Hits 107 Yen per Dollar, Lowest Level Since July of Last Year

In the Tokyo foreign exchange market on Sunday, the yen temporarily weakened to the upper 107 yen per dollar, a level not seen since July last year, as the dollar was bid up by rising long-term interest rates in the US.

A market participant commented, "We believe that the vaccination of the new coronavirus in the U.S. is progressing and that

A market insider said, "The U.S. long-term interest rate rose again on the back of the vaccination of the new coronavirus virus in the U.S. and the view that the economy will improve with additional economic measures, so people are selling yen and buying dollars with higher interest rates.

Source: https://www3.nhk.or.jp/news/html/20210304/k10012896731000.html?utm_int=news-business_contents_list-items_002