The yen hits a new low against the US dollar

Impacted by the prolonged tensions in the Middle East and the rise in international oil prices, the exchange rate of the Japanese yen against the US dollar on the New York foreign exchange market fell to as low as 163.96 yen per US dollar on the 23rd Eastern Time, setting another record low. Analysts believe that the ongoing tensions in the Middle East have pushed up international oil prices, heightened market concerns about inflation, and strengthened investor expectations for an early interest rate hike in the United States, leading to a stronger US dollar and further pressure on the yen. Previously, on the 21st Eastern Time, the exchange rate of the yen against the US dollar once fell to 163.18 yen per US dollar, the lowest level since December 1986. (Market News)