Yen price drop Expansion of new corona infection Expectation “bottomed out” June 3 18:12
On the 3rd, the Tokyo foreign exchange market and the yen exchange rate dropped to the latter half of the 108 yen level. This is because the expectation that the spread of the new coronavirus may have bottomed out the impact on the global economy.
The yen exchange rate as of 5 pm was 108 yen to 75 yen, which is a weak yen of 96 yen compared to 2 days.
Against the euro, the price fell to the level of 1 euro = 122 yen for the first time in about 4 and a half months, and at 5 pm the euro was weaker by 2.2 yen compared to the 2nd, 1 euro = 121 yen 95. It was 99 sen from sen.
The euro was 17 dollars per dollar = 1.1215 to 17 dollars.
A market official said, ``Expectations that the spread of the new coronavirus infection might have bottomed out the impact on the global economy due to the resumption of economic activities, and there are moves to buy dollars and euros and sell yen. However, there were voices concerned about the reaction from future risks such as the second wave of the spread of infection."