The Impact of U.S. Protectionism on the Weakening Japanese Yen
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The recent fall of the yen has raised concerns among Japanese officials, with Japan's top currency diplomat, Masato Kanda, warning that the decline has been 'very rapid' and driven by speculative moves. Kanda stated that the government is prepared to respond 'appropriately' if necessary .
The yen's fall against the dollar has been significant, with the dollar reaching a three-month high of 150.88 yen. This depreciation has been attributed to stronger-than-expected U.S. inflation data .
The Japanese government has traditionally issued verbal warnings before intervening in the foreign exchange market, and Kanda's statement suggests that intervention may be on the horizon if the yen's decline continues. The weaker yen has already had an impact on Japan's economy, as it has boosted the value...
#newstr #Yen #Dollar #BankOfJapan #Protectionism #BuyAmerican