Yen exchange rate has risen sharply against the euro, and the European economy is expected to decline. May 7, 19:00
In the Tokyo foreign exchange market on the 7th after the long holidays, the yen appreciated significantly against the euro due to the forecast that the European economy will decline due to the influence of the new coronavirus.
The yen exchange rate as of 5 pm was JPY 106-35 to JPY 36, which is 58 yen higher than the 1st of this month.
Against the euro, the price has risen to 1 euro = 114 yen level for the first time in about 3 years and 1 month, and at 5 pm, the euro is weaker by 2.41 yen than the 1st of this month, 1 euro = 114 yen. It was 84 to 88 sen.
On the other hand, the euro was $ 08 to 1.0798 = 1.0798 against the dollar.
A market official said, `` As the forecast that the economic growth rate of the euro area will fall to the highest drop during the consecutive holidays was announced, there was widespread concern about the future of the European economy and the euro was sold and the yen was sold. The move to buy has intensified, and since then, there has been a movement to buy back some of the euros and dollars that had fallen in price. ”