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Yen at 37-Year Low, 1 Dollar = 160 Yen Continues... "Weak Yen Situation"
- Writing language: Korean
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- Base country: Japan
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- Economy
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Summarized by durumis AI
- On the 26th, the yen hit a historic low for the first time since 1986, reaching 160 yen per dollar, surpassing 160 yen for the first time since 1986. Market participants expressed concern about the speculative yen weakness.
- While Finance Minister Suzuki expressed high tension about the yen's weakness and monitored the market, concerns about the weak yen situation are growing as the yen continues to weaken against major currencies, not just the dollar, but also the euro.
- The difference between the Bank of Japan's interest rate cut policy and the US Federal Reserve's rate hike policy, as well as Japan's slowing economic growth, are contributing to the weakening yen. The yen's weakness could be positive for export companies but a burden for import companies and consumers.
The yen exchange rate, which hit the 160 yen range for the first time since 1986 on the 26th, remained at the 160 yen level on the 27th. (Economic Affairs Correspondent Yoshida Takashi) A market official said, "Without any particular materials, the yen depreciation can only be said to be speculative." The yen exchange rate, which reached the 160 yen range in the London market on the evening of the 26th (Japan time), showed yen depreciation and dollar strength in the Tokyo market on the morning of the 27th. Finance Minister Suzuki said on the morning of the 27th, "We are watching the situation with a high degree of vigilance," once again checking the market. However, the yen is weakening against major currencies, including the euro, with the yen hitting its highest level against the euro since the euro's creation in 1999, and voices are emerging that "the yen is weakening." As the yen exchange rate has surpassed the 160 yen range and reached a historically low level, concerns about foreign exchange intervention by the government and the Bank of Japan are growing, and it is expected that the yen will continue to fluctuate nervously. Televison Asahi
The yen hit the 160 yen range for the first time since 1986 in the foreign exchange market on the 26th. This is a record low for the Japanese yen in 37 and a half years, and market officials are expressing concern, pointing out that "without any particular materials, the yen depreciation can only be said to be speculative."
Yen depreciation and dollar strength continued in the Tokyo market on the morning of the 27th, and Finance Minister Suzuki said, "We are watching the situation with a high degree of vigilance," checking the market. However, the yen is weakening against major currencies, including the euro, with the yen hitting its highest level against the euro since the euro's creation in 1999, and voices are emerging that "the yen is weakening."
As the yen exchange rate has surpassed the 160 yen range and reached a historically low level, concerns about foreign exchange intervention by the government and the Bank of Japan are growing. Accordingly, it is expected that the yen exchange rate will continue to fluctuate nervously.
Analysis has emerged that the difference between the Bank of Japan's interest rate cut policy and the US Federal Reserve's interest rate hike policy is intensifying the yen's weakness. It has also been pointed out that Japan's economic growth is slowing, which is also affecting the yen's weakness.
The yen's depreciation is having various effects on the Japanese economy. Exporting companies can see their export competitiveness strengthened due to the yen's depreciation, but on the other hand, importing companies may face difficulties due to rising import prices. Consumers may also experience price increases due to the yen's depreciation, and the yen's depreciation could also discourage domestic investment in Japan.
The government and the Bank of Japan are promoting various policies to curb the yen's depreciation. However, it is not easy to prevent the yen's depreciation, and the yen exchange rate is expected to continue to be volatile in the future.