The yen rises and falls, approaching a high for the first time in a month at 1:10 after Chairman Powell's remarks

2024/7/16 2:15 JST (some excerpts)
The yen temporarily rose 0.4% against the dollar in the foreign exchange market on the 15th New York time and hit a high price during the day, but the increase quickly disappeared. US Federal Reserve (FRB) Chairman Powell stated that he “deepened confidence” with inflation indicators for the past three times.

The yen rose to the level since 6/17 to 1 dollar = 157 yen 19 yen, and surpassed the 55-day moving average of 157 yen 56 yen. The yen has never surpassed the same average since March.