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The yen continued to struggle on Monday

EBC Forex Snapshot, 25 Mar 2024 The dollar was on the front foot on Monday and kept the yen pinned near a multi-decade low, though government officials have stepped up warnings recently over the currency's decline. Japan's top currency diplomat said the yen's current weakness did not reflect fundamentals. The fact the government has tolerated the yen's descent beyond 150 suggests a lack of sense of currency crisis, analysts say.

The yen is the lowest-yielding G10 currency, making it ideal for carry trades. Traders are betting that Japanese rates are not going to be rising rapidly from the current levels after the BOJ’s rate hike last week.

The green numbers in the table indicate that the data has increased compared with the previous time; the red numbers indicate that the data has decreased compared with the previous time; and the black numbers indicate that the data has remained unchanged. Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-03-25 12:55:43 (GMT)

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