The Japanese yen experienced a significant downturn against the US dollar today, reaching a nine-month low of 155. The weakening trend followed a confluence of factors, including anticipated Federal Reserve rate cuts in December and heightened tensions with China over Taiwan. Domestic policy uncertainties and geopolitical instability were identified as key contributors. The yen’s exchange rate briefly surpassed 155.3, leading to a slight recovery before further decline. Market volatility was observed across various sectors, with stocks experiencing a drop and bond yields increasing to historical highs.
Credits: News – South China Morning Post
