As the Japanese yen continued to depreciate, the yen-dollar exchange rate once exceeded 150 yen per dollar on the 20th.
Japanese media reported that the exchange rate of the yen against the US dollar broke the level of 150 yen on the same day, hitting 150.09.
It is the first time in 32 years since August 1990, during the second half of Japan’s “economic bubble”, that the yen-dollar exchange rate has exceeded 150 yen.
The continued decline in the value of the yen reflects Japan’s low economic growth, the Mainichi Shimbun analyzed.
He also added that Japan’s long-term Treasury yields have risen sharply and the US Federal Reserve has announced an aggressive rate hike policy to curb inflation, he added.
Meanwhile, Bank of Japan Governor Haruhiko Kuroda is said to be cautious about the yen’s continued weakness against the dollar, but plans to maintain monetary easing.
VOA News
