Reported 9 months ago
On June 28, 2024, the Japanese yen depreciated beyond 161 yen against the US dollar, marking the first time since 1986, due to a widespread strengthening of the US dollar. This has raised concerns in the market about the risk of Tokyo intervening in the foreign exchange market. Japan's Finance Minister, Suzuki Toshiki, stated that appropriate measures would be taken in response to recent exchange rate fluctuations, with the highest foreign exchange official to be replaced by Jun Mimura at the end of July. The yen also hit a new low against the euro at 172.36 yen per euro. Mimura is expected to continue advocating for a stable currency reflecting economic fundamentals, facing challenges such as global geopolitical conflicts, debt issues, and economic security.
Source: YAHOO