Reported 9 months ago
Japanese Yen has devalued below the 160 mark, hitting a low of 160.73 yen to 1 US dollar today. Experts suggest that the devaluation trend is not over yet and may break below the 165 mark. For those needing yen, such as people traveling in August, it is recommended to exchange yen this week. The possibility of dropping below 170 is deemed unlikely by Forex expert Chen Youzhong, with the yen potentially reaching a maximum of 165 before stabilizing. The main reasons for the devaluation are the strong US dollar, robust economic data, and hawkish comments from the Federal Reserve. Structural issues in Japan, such as a large debt-to-GDP ratio, also contribute to the continuous devaluation trend, despite the efforts of the Bank of Japan to intervene in the market.
Source: YAHOO