Why the Trump administration is helping support Japan’s weakening yen
- The United States and Japan last week staged a coordinated intervention to halt the slide of the yen after the Japanese currency fell to a 40-year low against the US dollar.
- While it is unusual for authorities to intervene to help prop up another country’s currency, the yen has an important role in international finance as the world’s third-most-traded currency, meaning its depreciation has repercussions far beyond Japan.
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- The United States and Japan last week staged a coordinated intervention to halt the slide of the yen after the Japanese currency fell to a 40-year low against the US dollar.
- While it is unusual for authorities to intervene to help prop up another country’s currency, the yen has an important role in international finance as the world’s third-most-traded currency, meaning its depreciation has repercussions far beyond Japan.
- Recommended Stories list of 4 itemslist 1 of 4Colombia’s Petro repeats vote fraud claims days before handing over powerlist 2 of 4Bodycam video shows firefighters battling blaz
Sources: Al Jazeera