Reported 11 months ago
Market discussions arise as the Japanese Yen approaches 160 against the US Dollar, with speculations on the timing of the Japanese government's intervention in the foreign exchange market due to the continuous selling pressure on the Yen. There are concerns that the Yen may depreciate below 170, especially with the upcoming release of the US 'Personal Consumption Expenditures Price Index (PCE)' on Friday, 28th May, which serves as a reference point for the Japanese government's intervention in the exchange rate. The article also mentions the readiness of the Japanese government to intervene in the forex market if necessary. The Yen's depreciation has already impacted the economy, and its effects are being observed in various sectors, including tourism, with a record number of tourists visiting Japan in March 2024 due to the favorable exchange rate.
Source: YAHOO