The Japanese yen has been toast. It’s been a few years since they surpassed the toilet paper threshold. 1 sheet of toilet paper was worth more than 1 yen, meaning you could save money by wiping your a$$ with money.
The yen's weakness is not only evident to MYR, but all currencies in general, particularly the US dollar.
In the past two years, USD is up 32.30% versus the yen.
Why is this happening?
The US has maintained high-interest rates while Japan has kept them low. pic.twitter.com/7uzr1wrRa1
— The Futurizts (@TheFuturizts) November 8, 2023
Bank of Japan Governor Kazuo Ueda signaled concern over raising interest rates, underlining the potential for severe market disruption and strain on the economy. Despite nearing their inflation target, the central bank faces a tough path ahead, with the looming threat of market instability and long-term low-rate repercussions adding to the grim outlook.