Next week, the yen exchange rate is expected to experience turbulent movements, fluctuating due to the U.S. President and congressional elections.

November 1, 2024 15:00 JST
The yen exchange rate next week is expected to show volatile movements. The U.S. presidential election is closely contested between the Republican candidate, former President Trump, and the Democratic candidate, Vice President Harris. Depending on the outcome such as whether the Republicans will sweep the White House and both houses of Congress or if there will be a divided government, market fluctuations are expected to occur.

In the foreign exchange market next week, there is a possibility of sharp movements in the Dollar/Yen exchange rate. The U.S. presidential election remains highly unpredictable, and the market has not fully priced in the results. The Federal Open Market Committee (FOMC) is largely anticipated to cut interest rates, but the focus is on how much potential further cuts this year will be factored in.
The expected range is 150-155 yen for the Dollar, and 1.06-1.10 dollars for the Euro.
According to the political information site Real Clear Politics, Mr. Trump's approval rating is currently at 48.4%, slightly higher than Ms. Harris' 48.0%. Since the 26th, Mr. Trump has been holding a narrow lead over Ms. Harris.