Legit.ng on Nostr: nostr:note1qtjl0n6kzpcmmp97gxgcz93pzj86t2ycp0l659e8xsdsvvl5xlgskt9pdn

quoting note1qtj…9pdn

Yen slides to fresh 34-year low against dollar, stocks rally amid US inflation concerns
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#9654910e ver:0.25

The Japanese Yen has reached a 34-year low against the US Dollar, with the exchange rate depreciating to 160 Yen against the Dollar. This decline is attributed to the ongoing strength of the US Dollar and postponed expectations for Federal Reserve rate cuts. The Yen's weakness may undermine the competitive advantage of Chinese manufacturers. The depreciation of the Yen has significant consequences for Japan's export-driven economy, potentially boosting exports but also a result of the economic impact of the COVID-19 pandemic and the Bank of Japan's monetary policy. The Bank of Japan is meeting to discuss interest rates, with concerns that maintaining the rate could further weaken the Yen. The yen's plunge is occurring on a national holiday....

#newstr #Yen #Dollar #Stocks #BankOfJapan #FederalReserve #Inflation #MonetaryPolicy #EquityMarkets

https://here.news/story/9654910e?ver=0.25