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ECONOMY > Economic Indicators

Yen continues to lose ground vis-à-vis dollar   

  • March 18, 2022
  • , Yomiuri, Sankei
  • JMH Summary

Sankei and Yomiuri highlighted the yen’s continued slide against the dollar in response to the crisis in Ukraine, projecting that the Japanese currency’s value may plunge to its lowest level in seven years at any moment also partly due to the Fed’s decision to end its zero-interest rate policy. The paper attributed the decline to the country’s decades-long economic woes that have become even more pronounced amid the coronavirus pandemic. As exports are unlikely to increase even under a weaker yen owing to the “hollowing-out” of manufacturing platforms, the daily projected that the nation’s economic recovery will probably be delayed further because personal spending is likely to plummet on account of the steady rise in the prices of imports triggered by the weaker yen in the prolonged absence of wage hikes.  

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