Tokyo-Sana
The exchange rate of the US dollar today crossed the 115-yen mark for the first time in more than four years, a rise that came a day after the White House announced the nomination of Federal Reserve Chairman Jerome Powell for a second term, which fueled speculation that Washington would tighten its monetary policy faster than expected.
In early trading, the dollar exchange rate reached 115.1 yen, a level not seen since March 2017.
As soon as US President Joe Biden declared Jerome Powell "the right person" to lead the Federal Reserve for a second term and tackle record-high US inflation, speculation grew that the US central bank would ease its massive bond-buying program faster than it had previously announced while Analysts are betting on a rapid rate hike.