Former FX Interventionist for Japan: The Economy is Suffering from the Current Weak Yen.

Former Japanese vice Finance Minister for International Affairs Takehiko Nakao issued a statement on Thursday warning that the present weak yen currency is bad for the economy.

June 23, 2022 - 12:15 PM 256 views

Former FX Interventionist for Japan: The Economy is Suffering from the Current Weak Yen.

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© Former FX Interventionist for Japan: The Economy is Suffering from the Current Weak Yen.

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Former Japanese vice Finance Minister for International Affairs Takehiko Nakao issued a statement on Thursday warning that the present weak yen currency is bad for the economy.

In the previous hour, USD/JPY currency pair saw a further decline as some stops appeared after a break below 135.50. The demand for the safe-haven yen currency was also increased by the return of risk-off flows.

The USD/JPY pair is presently trading at 135.40, down 0.63 percent on the day, approximately 100 pip below its daily high of 136.27. 135.15 was recorded as the daily low.

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