TOKYO, April 27 (News On Japan) – A significant move in the currency markets has seen the Japanese yen depreciate again, crossing the 158 mark against the US dollar. This level marks the yen’s weakest level in about 34 years, signaling continued economic pressure and potentially major shifts in Japan’s financial landscape.
Despite Japan’s central bank raising rates for the first time since 2007, interest rates remain very low compared to other developed countries, especially the US, where aggressive rate hikes have made the dollar more attractive to investors. Furthermore, Japan’s low interest rates are failing to counter the yen’s decline as higher U.S. interest rates provide better returns for investors.
Source: TBS
