Reported about 18 hours ago
The Japanese yen has plunged 2.4% against the U.S. dollar and 1.4% against the Swiss franc following recent missile attacks in the Middle East, overshadowing its typical safe-haven status. Japan's heavy dependency on oil imports means that rising crude prices threaten its trade balance and economic stability, diminishing the yen's appeal. Analysts predict further weakening of the yen as rising manufacturing costs due to elevated energy prices could hinder its value and overall economic outlook, especially ahead of upcoming elections.
Source: YAHOO