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The dollar fell 0.47% to 154.65 yen and the yield on the 5-year Japanese government bond (JGB) rose 4 basis points to 0.75%, the highest since June 2009, after the remarks.
Speculation about Japanese rate hikes drove a rebound for the yen, which ended with the biggest weekly gain vs the buck since July. The dollar fell 1.25% on the day to 149.65 yen.
For instance, if 10-year Australian bonds yield 5% while similar Japanese bonds are paying close to nothing, investors can sell the yen, buy the Australian dollar, and use the proceeds to buy ...
Japanese yen denominated paper currency was also conceived with the coins in 1870 as Meiji Tsuho notes by Italian engraver Edoardo Chiossone. [32] These were released as fiat currency in denominations of 1, 2, 5, 10, 50, and 100 yen along with subsidiary notes of 10, 20, and 50 sen in 1872.
yen expensive) or Endaka Fukyo (Japanese: 円高不況, lit. yen expensive recession) is a state in which the value of the Japanese yen is high compared to other currencies. Since the economy of Japan is highly dependent on exports, this can cause Japan to fall into an economic recession. The opposite of endaka is en'yasu (Japanese: 円安, lit ...
The crashing yen even led the Bank of Japan to intervene at times, but ultra-low rates encourage capital flight. And now that the BOJ is raising rates, the engines are reversing, along with the ...
In 1946, following the Second World War, Japan removed the old currency (旧円券) and introduced the "New Yen" (新円券). [1] Meanwhile, American occupation forces used a parallel system, called B yen, from 1945 to 1958. Since then, together with the economic expansion of Japan, the yen has become one of the major currencies of the world. [9]
The yen fell about 2.5% to a session low of 147.94 per dollar following the comments from BOJ Deputy Governor Shinichi Uchida. The dollar was last up 1.74% at 146.850 yen.