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Why is Japan's yen falling and why is it so weak against the US dollar?
https://www.aljazeera.com/economy/2024/4/30/why-is-japans-yen-so-weak-against-the-us-dollarWhy is Japan’s yen falling and why is it so weak against the US dollar?
The weakness of the Japanese currency is back in the spotlight after sinking to its lowest level since April 1990.
By John Power
Published On 30 Apr 2024
The weakness of the Japanese yen is in the spotlight again after its latest tumble in value.
On Monday, the currency sank to 160.17 against the US dollar, its lowest since April 1990.
[...]
While the US Federal Reserve’s benchmark interest rate is currently set at 5.25-5.50 percent, the Bank of Japan’s (BOJ’s) equivalent rate is just 0-0.1 percent.
“The main driver is the rate differential between the US and Japan,” Min Joo Kang, senior economist for South Korea and Japan at ING, told Al Jazeera.
[...]
The weakness of the Japanese currency is back in the spotlight after sinking to its lowest level since April 1990.
By John Power
Published On 30 Apr 2024
The weakness of the Japanese yen is in the spotlight again after its latest tumble in value.
On Monday, the currency sank to 160.17 against the US dollar, its lowest since April 1990.
[...]
While the US Federal Reserve’s benchmark interest rate is currently set at 5.25-5.50 percent, the Bank of Japan’s (BOJ’s) equivalent rate is just 0-0.1 percent.
“The main driver is the rate differential between the US and Japan,” Min Joo Kang, senior economist for South Korea and Japan at ING, told Al Jazeera.
[...]