Yen falls to the weakest since 1990 against the dollar

teatree (63)in #japan • 2 years ago

Here is the chart:

This is causing all sorts of problems for Japan: for example, Japan doesn't have any oil of it's own, it has to import it and pay for it in dollars.

🇺🇸 Brent oil is up ~18% year to date
🇯🇵 In yen terms, oil is up nearly 50% ytd

That extreme cost is having a major effect on Japan's economy.

The Bank of Japan has to decide whether to intervene, or whether to wait for the market to correct by itself. The dollar can't maintain it's strength forever.

#economy

2 years ago in #japan by teatree (63)

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