The developed world's most dovish central bank and companies keen to put cash to work overseas have combined to make Japan's yen one of the world's worst performers this year, and that weakness could linger a while.
By Syndicated Content
By Kevin Buckland and Hideyuki Sano
TOKYO (Reuters) â The developed worldâs most dovish central bank and companies keen to put cash to work overseas have combined to make Japanâs yen one of the worldâs worst performers this year, and that weakness could linger a while.
Factors at home and abroad have conspired to drive a 6% slide in the yen against the U.S. dollar this year.
Unlike other major central banks that are starting to face inflation risks and contemplating a withdrawal of emergency pandemic stimulus, the Bank of Japan has not only been grappling with deflation but has been notably loath to publicly suggest any tapering.