Japan Yen falls 38 years low against US Dollars #newsdigest #japan #inflation #fed #japantravel
The U.S. dollar has been steadily gaining against the Japanese yen, pushing the yen close to the 160 level per dollar, its weakest point since 1998. This is being driven by the Federal Reserve’s aggressive interest rate hikes to combat high inflation, widening the interest rate differential between the U.S. and Japan and making the yen less attractive compared to the strengthening dollar. The weaker yen is putting pressure on Japan’s trade-reliant economy, and the Japanese government and central bank are concerned about the rapid depreciation of their currency.
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