Japanese Yen drops to its lowest level in a month

Japanese Yen levels declined during Monday's trading, recording the lowest level in a month with the continued rise in the US dollar levels, which reduced the chances of the Japanese currency in the market.

The dollar yen pair is currently trading at 110.85 level, after the session opened today at the level of 110.72, recording the lowest level at 110.69 and the highest record at 110.94 while the pair has recorded four weeks of rising.

Low levels of the Japanese yen during trading today comes in the light of the continued rise in the dollar against major currencies, reaching its highest level in eight weeks, which reduced demand for the yen.

In general; rise in the dollar came after the announcement of the Federal Reserve Bank of the minutes of its meeting to show most members approval to raise interest rates in the next meeting with the continued improvement in the situation of the US economy, which appeared on the economic data recently released from the US economy.

The dollar index, which tracks the dollar's performance against a basket of major currencies, is currently trading at the level of 95.90 after it opened today's session at the level of 95.83, while the lowest level has been recorded at 95.82 after recording the highest in eight weeks at 95.94, comes after rising to record four consecutive weeks of rising.