Asian Currency

Japanese Yen Faces Pressure While BoJ Alters Rates


The Japanese yen’s recent performance against major currencies, particularly the U.S. dollar, has raised eyebrows globally. A mixed bag of economic indicators is fueling speculation, prompting traders and analysts to ponder the future of Japan’s currency amid various pressures.

Recently, the Bank of Japan (BoJ) announced it would increase its key interest rate from zero to about 0.25%, marking its first rate hike above zero in 17 years. This decision, coming on the back of persistent fears about the yen’s depreciation, was intended to relieve pressure on the economy heavily dependent on imports, including essentials like oil and food.



Source link

Leave a Response