FRB = Federal Reserve Board Chairman Powell’s congressional testimony, the yen change fee briefly fell to the 137 yen degree within the New York international change market on the seventh.
In response to Chairman Powell’s testimony to Congress on the seventh, he mentioned, “We are ready to accelerate the pace of rate hikes.” The motion to promote the yen and purchase the dollar progressed.
A market insider mentioned, “There are speculations that the FRB will enhance the vary of rate of interest hikes at its financial coverage assembly to be held later this month, resulting in yen promoting and dollar shopping for.”