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The BOJ's hike last week, along with intervention from Tokyo in early July, led investors to bail out of once-popular carry trades in which traders borrow the yen at low rates to invest in assets ...
The chart below shows the precipitous decline—and sudden rebound—of the Nikkei, matched by a drop in U.S. equity prices: View this interactive chart on Fortune.com What comes next?
The yen tumbled past the key psychological level of 150 to the dollar for the first time since 1990, defying Japanese policymakers' repeated threats of intervention to address excessive currency ...
The first gold yen coins consisted of 2, 5, and 20 yen coins which were struck throughout 1870. Five yen coins were first struck in gold for the Japanese government in 1870 at the San Francisco Mint. [25] During this time a new mint was being established at Osaka, which did not receive the gold bullion needed for coinage until the following ...
The remarks, which echo those made by BOJ Deputy Governor Ryozo Himino on Tuesday, pushed up the yen as markets continued to price in the chance of a rate hike at the bank's next policy meeting on ...
The yen was officially adopted by the Meiji government in an act signed on June 27, 1871. [3] While silver one yen coins are dated 1870, this indicates their mintage date at the San Francisco Mint as the coins were not issued until the following year. [1] [4] Gold one yen coins dated 1871 were not minted until 1872 at the newly formed Osaka ...
The beginning of the Second Sino-Japanese War in 1937 led to renewed efforts to expand the yen bloc to China in an effort to push out western investment. The North China Economic Development Company was established with the aim of reducing non-Japanese economic penetration in North China, and the Chinese Maritime Customs Service was disrupted in an effort to degrade the credit rating of the ...
The weak yen was once a cause for celebration for Japanese companies, as they could sell cars and cameras cheaper abroad and enjoyed fatter profits when earnings were brought home. After years of ...