Reported about 1 year ago
On July 8, 2024, at 4:10 pm, the Japanese Yen to the US Dollar has continued to hit new lows since breaking the previous low of 160.17 yen on June 26, reaching levels not seen since 1986. Corporate analysts indicate that the current wave of yen depreciation is likely to stabilize around 163-164 yen. Factors such as market expectations of a Federal Reserve rate cut in September and the Bank of Japan's plan for quantitative tightening are keeping the yen weak. While short-term yen reversal is unlikely, changes in policy direction by the BoJ may be necessary to reverse the trend in the coming years.
Source: YAHOO