Yen exchange rate trading at around 105 yen 12:09 on July 29th
The Tokyo foreign exchange market on the 29th, the yen exchange rate has risen, and it is trading at around 105 yen per dollar. There is a movement to sell the dollar and buy the yen, fearing the future of the US economy, where the new coronavirus infection will continue to spread.
In the New York foreign exchange market on the 28th, the yen exchange rate temporarily rose to the high-half level of 104 yen per dollar for the first time in about four and a half months, and has been trading below 105 yen since then.
A market official said, "In the United States, the spread of the new coronavirus continued to spread, and investors worried about the economic outlook are moving to sell dollars and buy yen. A major rating agency is rating Japanese government bonds. We have lowered our outlook, but so far the market response is limited."