Immediately after the Yen's record devaluation, Japan's Deputy Finance Minister said that Japan will act appropriately and will not rule out any options to prevent the Yen from fluctuating too much.
Japanese 10,000 Yen banknote. (Photo: AFP/VNA)
The Japanese yen fell to a 34-year low against the dollar as US inflation data beat expectations.
At the end of the trading session on April 10 in the New York market (USA), the exchange rate between the two currencies was 1 USD for 153 Yen.
Immediately after this development, Japanese Deputy Finance Minister Masato Kanda said that Japan will act appropriately and will not rule out any options to prevent the Yen from fluctuating too much.
Somewhat optimistic signs of inflation in the US have added to investors’ expectations that the Federal Reserve may delay cutting interest rates. The US consumer price index also rose 3.5% in March compared to the same month last year. This data has triggered further buying of dollars and selling of yen.
The Yen has recently faced downward pressure after the Bank of Japan (BOJ) ended its monetary easing policy in March after the financial institution became more confident in its ability to stabilize inflation in Japan thanks to a positive cycle of wage and price increases./.
According to VNA
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