Back to the 80s: Japanese Yen Keeps Sliding

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Won-Yen Exchange Rate Falls Below 900 Won, Lowest in 1 Year and 8 Months. The exchange rate of the won against the yen has fallen below 900 won for the first time in 1 year and 8 months. The value of the yen is declining. Despite the Bank of Japan (BOJ) raising interest rates, the interest rate gap with the U.S. remains large, and coupled with the Japanese government's aggressive fiscal expansion stance, the yen is weakening...

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The strength of the dollar against the world’s major currencies, with a few exceptions such as that of the Chinese yuan, has several correlations, mainly in the case of the euro and the Japanese yen. For example, in the Japanese case, a combination of low inflation and depreciation of the yen have catapulted to Tokyo, among the 70 big cities, as the cheapest in the world. [...] The entry The “carry trade” is global. Today Japan is a cheap touris…

toyokeizai.net

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Approximately 80 years ago, the yen plummeted to one-ninth of its value against the US dollar. Even now, with the yen continuing to depreciate, why does Japan repeatedly pursue policies that undermine its currency value? If this path continues, will Japan's future become even more bleak?