Japan will struggle to rescue its plummeting currency
Expensive government intervention looks likely to provide only brief respite
The yen is on a wild ride. As Asian markets opened on April 29th, the currency plunged to a 34-year low of 160 to the dollar, adding to a hefty fall over the past three years (see chart). A sudden reversal to more like 155 to the dollar prompted rumours of intervention by the Bank of Japan (BoJ).
Explore more
This article appeared in the Finance & economics section of the print edition under the headline “A slip of the yen”
Finance & economics May 4th 2024
- Immigration is surging, with big economic consequences
- Russia’s gas business will never recover from the war in Ukraine
- Japan will struggle to rescue its plummeting currency
- Hedge funds make billions as India’s options market goes ballistic
- What campus protesters get wrong about divestment
- Working from home and the US-Europe divide
From the May 4th 2024 edition
Discover stories from this section and more in the list of contents
Explore the editionDiscover more
The great-man theory of Wall Street
Why finance is still dominated by bold individuals
Hong Kong’s property slump may be terminal
Demographics and geopolitics will make a recovery harder
Why everyone wants to lend to weak companies
An unanticipated side-effect of Donald Trump’s election
American veterans now receive absurdly generous benefits
An enormous rise in disability payments may complicate debt-reduction efforts
Why Black Friday sales grow more annoying every year
Nobody is to blame. Everyone suffers
Trump wastes no time in reigniting trade wars
Canada and Mexico look likely to suffer