The Yen Is Getting Slammed Again
theNews:
The yen is plunging again. It's down 0.34 percent against the dollar.
The yen is plunging again. It's down 0.34 percent against the dollar.
A dollar will get you ¥90.63.
Reuters' Wanfeng Zhou reports: "Traders cited reports quoting Japan's deputy economy minister, Yasutoshi Nishimura, as saying the yen's decline is not over and a dollar/yen level of 100 would not be a concern. Nishimura was also quoted saying that only if the dollar rises to 110-120 yen would it add to domestic import costs."
read more ...The recent decline of JPY has been forthcoming ever since Shinzo Abe became the Prime Minister. He has advocated that more stimulus needed to be done by BoJ to further weaken the JPY. So it is clear that in the short to medium term, the JPY might continue to weaken.
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The yen is plunging again. It's down 0.34 percent against the dollar.
A dollar will get you ¥90.63.
Reuters' Wanfeng Zhou reports: "Traders cited reports quoting Japan's deputy economy minister, Yasutoshi Nishimura, as saying the yen's decline is not over and a dollar/yen level of 100 would not be a concern. Nishimura was also quoted saying that only if the dollar rises to 110-120 yen would it add to domestic import costs."
read more ...