Steady Progression of Yen Depreciation, Strongly Driven by Dollar Strength
Recently, the yen has been steadily depreciating at a gradual pace. Following two suspected covert interventions, USD/JPY has gradually risen to the 157 level. EUR/JPY is stabilizing around 170, and GBP/JPY around 200. Yesterday, statements from Minneapolis Fed President Kashkari that “nobody has taken a rate hike off the table” and a significant increase in […]