Topics

Posted 9/21/2023, 4:54:00 PM

Yen Hits Lowest Purchasing Power Since 1970 Amid Prolonged Depreciation

Yen's purchasing power sinks to lowest level since 1970, when exchange rate was fixed at 360 yen per dollar
Sustained deflation in Japan has caused yen to lose value against dollar and other currencies
Yen's weakened purchasing power raises costs for Japanese travelers and imported goods
Data from Bank for International Settlements shows yen's real effective exchange rate at 73.19 in August
Prolonged yen depreciation compounds economic challenges in Japan amid deflationary environment

nikkei.com

Relevant topic timeline:

8/22/2023

Rupee falls to historic low of 299 vs dollar

The Pakistani rupee has hit a historic low against the US dollar due to increased demand for the dollar following eased import restrictions and political uncertainty ahead of the general elections.

8/22/2023

Ex-BOJ official predicts no yen intervention until breach of 150 threshold

Japan is unlikely to intervene in the market unless the yen weakens past 150 to the dollar and becomes a major political issue, according to a former central bank official, who also noted that the benefits of a weak yen are becoming clearer due to the re-opening of Japan's borders.

8/29/2023

Yen's buying power sinks to 53-year low after decades of stagnation

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9/6/2023

Japan Ramps Up Verbal Defense as Yen Sets Fresh 10-Month Low

The yen rebounded from a 10-month low against the dollar after Japan issued a strong warning about sharp currency moves, increasing the likelihood of government intervention if the slump continues.

9/7/2023

Dollar shines as U.S. economy outperforms, yen plumbs 10-month low

The Japanese yen has reached a 10-month low against the US dollar, while the euro and sterling remain near three-month lows, as investors show confidence in the US economy despite global growth concerns.

9/7/2023

Dollar rises on robust U.S. economy, yuan sinks to 16-year low

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9/11/2023

Yen Jumps vs Dollar on Expectations of BOJ Policy Shift Away from Negative Rates

The Japanese yen strengthens against the US dollar as Bank of Japan Governor Kazuo Ueda hints at a potential shift away from negative interest rates.

9/22/2023

Yen Under Pressure as BOJ Policy Decision Looms Amid Rising US Yields and Persistent Japanese Inflation

The Japanese yen remains weak against the U.S. dollar due to high U.S. Treasury yields and anticipation of the Bank of Japan maintaining its current monetary policies, while the dollar is boosted by the prospect of higher U.S. interest rates.

9/22/2023

Yen Slides Past 148 Per Dollar as BOJ Sticks to Dovish Policies

The yen weakened against the dollar as the Bank of Japan announced it would maintain its accommodative monetary policy, with little indication of rolling it back.

9/25/2023

Yen Slumps to 10-Month Low as BOJ Defies Hawkish Fed, Raising Prospect of Intervention

The Japanese yen is approaching the key level of 150 per dollar, increasing the likelihood of forex intervention by Japanese authorities, while the US dollar continues its gains after the Federal Reserve signaled a longer period of higher interest rates.

10/2/2023

Dollar Rises Against Yen and Euro in Q3 on Rate Hike Bets; BOJ Mulls Policy Exit

The dollar rose due to expectations of higher U.S. interest rates, while the yen reached a one-year low, leading to concerns about intervention by Japanese authorities; the euro and pound also fell, while the U.S. Congress passed a funding bill to avoid a government shutdown.

10/2/2023

BOJ Tankan Survey Shows Improved Business Sentiment Among Large Manufacturers

The weak yen has improved business sentiment at Japanese companies, with the overall mood boosted by a more favorable supply chain and an influx of tourists from abroad, according to the Bank of Japan's latest quarterly Tankan survey.

10/3/2023

Yen Slides to 1-Year Low vs Dollar Despite Japan Warnings

The yen briefly fell below 150 against the dollar despite efforts by the Japanese government to prevent the decline, as investors anticipate the U.S. Federal Reserve to maintain high interest rates.

Topics

Posted 9/21/2023, 4:54:00 PM

Yen Hits Lowest Purchasing Power Since 1970 Amid Prolonged Depreciation

Yen's purchasing power sinks to lowest level since 1970, when exchange rate was fixed at 360 yen per dollar
Sustained deflation in Japan has caused yen to lose value against dollar and other currencies
Yen's weakened purchasing power raises costs for Japanese travelers and imported goods
Data from Bank for International Settlements shows yen's real effective exchange rate at 73.19 in August
Prolonged yen depreciation compounds economic challenges in Japan amid deflationary environment

nikkei.com

Relevant topic timeline:

8/22/2023

Rupee falls to historic low of 299 vs dollar

The Pakistani rupee has hit a historic low against the US dollar due to increased demand for the dollar following eased import restrictions and political uncertainty ahead of the general elections.

8/22/2023

Ex-BOJ official predicts no yen intervention until breach of 150 threshold

8/29/2023

Yen's buying power sinks to 53-year low after decades of stagnation

The yen's weakness against major currencies is driving up import costs in Japan, leading to higher prices for necessities like energy and food.

9/6/2023

Japan Ramps Up Verbal Defense as Yen Sets Fresh 10-Month Low

The yen rebounded from a 10-month low against the dollar after Japan issued a strong warning about sharp currency moves, increasing the likelihood of government intervention if the slump continues.

9/7/2023

Dollar shines as U.S. economy outperforms, yen plumbs 10-month low

9/7/2023

Dollar rises on robust U.S. economy, yuan sinks to 16-year low

9/11/2023

Yen Jumps vs Dollar on Expectations of BOJ Policy Shift Away from Negative Rates

The Japanese yen strengthens against the US dollar as Bank of Japan Governor Kazuo Ueda hints at a potential shift away from negative interest rates.

9/22/2023

Yen Under Pressure as BOJ Policy Decision Looms Amid Rising US Yields and Persistent Japanese Inflation

9/22/2023

Yen Slides Past 148 Per Dollar as BOJ Sticks to Dovish Policies

The yen weakened against the dollar as the Bank of Japan announced it would maintain its accommodative monetary policy, with little indication of rolling it back.

9/25/2023

Yen Slumps to 10-Month Low as BOJ Defies Hawkish Fed, Raising Prospect of Intervention

10/2/2023

Dollar Rises Against Yen and Euro in Q3 on Rate Hike Bets; BOJ Mulls Policy Exit

10/2/2023

BOJ Tankan Survey Shows Improved Business Sentiment Among Large Manufacturers

10/3/2023

Yen Slides to 1-Year Low vs Dollar Despite Japan Warnings

The yen briefly fell below 150 against the dollar despite efforts by the Japanese government to prevent the decline, as investors anticipate the U.S. Federal Reserve to maintain high interest rates.