Japan Economy

Chinese Yuan dropped against the dollar

Chinese Yuan Dropped Against the Dollar. What About Yen?

The Chinese yuan tumbled down by 1.28% against the U.S. dollar in March. Meanwhile, the greenback soared by 2.52% in March against a basket of other major currencies. Official data showed on Wednesday that China’s foreign exchange reserves dropped more than expected in March. They plunged by $34.97 billion to $3.17 trillion during the last …

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euro and dollar

U.S. Dollar Hit a One-Year High Against the Japanese Yen

The U.S. dollar rallied against major currencies on Tuesday, skyrocketing to a one-year high against the yen. Faster U.S. vaccination rollout, along with plans for a major stimulus package, boosted inflation expectations and Treasury yields, causing the currency’s surge. Traders flocked to the safe-haven dollar found after digesting the fallout from the plunge of highly …

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Japan

Japan Provides State-backed Fund to COVID-hit Firms

A Japanese state-backed fund will invest in companies suffering from the fallout of the COVID-19 pandemic. This was Japan’s Economic Minister Yasutoshi Nishimura’s statement on Monday. They said they’ve received requests from a wide range of industries. These include dining and accommodation. The Regional Economic Vitalization Corporation of Japan (REVIC) provided financial support to a …

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yen and U.S. dollar

U.S. Dollar and Yen Rallied Due to Safe-Haven Demand

The U.S. dollar rallied on Wednesday. It neared a four-month high as traders worried about a third coronavirus wave in Europe, escalating tensions between the West and China, and a potential U.S. tax increase. These concerns significantly reduced risk appetite on the market. As a result, safe-haven currencies soared. The Japanese yen soared along with …

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Dollar

U.S. Dollar Hit New Highs Against the Yen and the Euro

The U.S. dollar skyrocketed to multi-month highs against the Japanese Yen and the Euro on Friday. During his speech, Federal Reserve Chair Jerome Powell reiterated his stance to keep interest rates low for a long time. He also did not express any concerns about a recent sell-off in bonds. According to Powell, the sell-off in …

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Tokyo Olympics

Survey says over half of Japan firms want Olympics cancelled

According to a survey, more than half of Japanese firms believe the Tokyo Olympic Games should be canceled or postponed. Think Tank Tokyo Shoko Research showed the survey on Monday, which cast further doubt over the troubled Games’ fate. The country is struggling to contain COVID-19, lagging behind western countries in rolling out vaccines. Meanwhile, …

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Japanese Economy

Japan might suffer bigger-than-expected slump in Q1

The Japanese economy will likely suffer a much bigger contraction than initially expected in the January-March quarter. According to a poll, the extended state of emergency to contain the coronavirus pandemic hurt corporate and household spending. Analysts said whether or not Tokyo proceeds with the Olympic Games 2021 would have little impact on the economy …

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