NATIONAL NEWS
The yen weakened to more than 150 to the euro on Friday 28 April.
The last time this exchange rate was seen between the two major currencies was October, 2008.
The Bank of Japan’s continued ultra-loose monetary policy and Yield Curve Control (YCC) framework are believed to be the reasons behind the yen’s persistent devaluation.
Kazuo Ueda, who became the Bank of Japan’s governor last month, didn’t unveil any policy changes following a two-day meeting over 27 to 28 April.
Analysts tend to believe that any YCC changes won’t come till this summer.
Japan’s currency also weakened against the dollar, now standing at just over 136.
Sources:
Financial Times – 28 April 2023
Nikkei Asia – 29 April 2023
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