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© Thomson Reuters 2020.Safe-haven yen takes a hit as hopes for China stimulus grow
By Stanley White TOKYO©2024 GPlusMedia Inc.
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© Thomson Reuters 2020.
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JeffLee
It's largely because Japan is the world's biggest creditor nation, the 3rd biggest economy and not communist, like China.
Wakarimasen
The yen as a safe haven always puzzles me. No yield, a government and central bank committed to money printing, a moribund economy, an aging population. I gues the fact that if it were left alone it would be closer to 90 to the dollar than the current 110 is a factor, but still,,,,,,,
fxgai
I think it was just the start of a move lower for the yen.
COVID-19 is spreading in Japan, and Chinese tourism is going to be down, the economy is probably going to be in recession, so I don't think the yen looks like a great safe-haven in the not so short short term.
Gold has been streaking to all-time (or was it just 40 year?) highs against the yen this week.
Hopefully things settle down nicely before the Olympics, but that's more hope than anything.
fxgai
No very short term bounce, it’s fallen through 112 today. Strong move it seems.
Peeping_Tom
"It's largely because Japan is the world's biggest creditor nation, the 3rd biggest economy and not communist, like China."
And also because Japan's debt (oh the debt) is 97% domestic. They are in debt to themselves.
Virtually no foreign debt; other countries, including the US and China owe money to Japan instead.
America (the Word's biggest external debtor), China, Britain et al all owe to foreigners.
umbrella
It's not a weak Yen it's a strong dollar. The Dollar is up against all currencies these last 2 days.
TARA TAN KITAOKA
Good for producers in Japan.
Speed
Anyway, isn't it better for the yen to be weaker? Japanese exports become cheaper and more attractive thus reducing their enormous trade deficit which was reported yesterday.
I'd like to see the yen drop to about 130-150 yen to the USD.