Japanese yen
Seoul, Tokyo vow 'appropriate action' on weak yen and won
South Korea and Japan shared "serious concerns" on the recent weakness of their currencies against the dollar and agreed to take "appropriate actions" to counter extreme volatility, the finance ministry in Seoul said Wednesday.
Japanese Yen Hits Lowest Level Since 1990
Amid a strengthening dollar fueled by robust U.S. economic indicators, the Japanese yen tumbled to its lowest level in 34 years. On Tuesday, the U.S. dollar surged to 151.97 yen, surpassing the previous multi-year peak set in October 2022. This surge has triggered concerns over Japan's currency stability, prompting Finance Minister Shunichi Suzuki to hint at potential intervention.
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Japan slips to the world's fourth-largest economy
Japan has slipped to the world's fourth-largest economy, as government data released Thursday showed it fell behind Germany's in 2023.
The numbers highlight how the Japanese economy has gradually lost its competitiveness and productivity while the population shrinks as Japanese people age and have fewer children, analysts say.
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Japan PM unveils $113 bln stimulus as poll numbers slump
Japanese Prime Minister Fumio Kishida announced a stimulus package worth more than $100 billion yesterday as he tries to ease the squeeze from inflation and rescue his premiership with his poll ratings at a record low.
Japan 'on standby' to intervene as yen plummets
Japan's top currency official said yesterday that Tokyo was "on standby" to intervene after the yen fell to a new year-low against the dollar and plunged against the euro, Bloomberg reported.
The yen dropped below 151 against the dollar overnight after the Bank of Japan further loosened its control of bond yields but stuck with sub-zero short-term interest rates.
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Japan sank into trade deficit last month
Japan suffered a trade deficit last month as exports sank for the first time in more than two years, dragged down by a slowdown overseas.
Japan's trade deficit totaled 78.7 billion yen ($539 million), the Finance Ministry said yesterday, the first trade deficit for the world's third largest economy in two months.
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Sony hikes net profit forecast as weak yen boosts gaming
Sony upgraded its annual net profit forecast yesterday, saying it expects strong results in its key gaming sector as the weak yen inflates profits on products sold abroad.
The Japanese electronics and entertainment giant said net profit in the April-December period jumped five percent year-on-year to 809 billion yen ($6.3 billion).
Bank of Japan keeps easing policy despite US, Europe rate hikes
The Bank of Japan on June 17 stuck to its long-held monetary easing policy even as other central banks around the world hike interest rates to tame inflation.
But it said it would "pay due attention" to foreign exchange markets, a rare comment that comes after the yen hit a 24-year low against the dollar.
Yen drops to 20-year low against dollar
The yen hit its lowest level against the dollar in two decades yesterday, extending recent falls as the gap widens between Japan's ultra-loose monetary policy and U.S. tightening.
Despite being traditionally considered a safe-haven currency, uncertainty fueled by the war in Ukraine has not caused the yen to strengthen.
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Japan is Beginning to Pay $ 930 to Every Citizen
Japan will begin to pay 100,000 yen (about $ 930) in financial aid to each citizen in May, Tarō Asō, the country's deputy prime minister and finance minister, told a news conference in Tokyo.
The aim is to help all families, regardless of income, in dealing with the damage the coronavirus epidemic has caused to the country's economy.
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