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Topic-icon The Japanese Yen weakens to the lowest in 7 years

The yen fell the most in seven years on Monday. After the Bank of Japan offered to buy 10-year Japanese government bonds.

On March 29, 2022, foreign media SLOTXO reported that The Japanese yen has fallen the most since March 2021 against the US dollar. Because the Bank of Japan is still seriously easing monetary policy. This is different from the Federal Reserve's more aggressive stance.

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The yen was down as much as 2.5% at 125.09 yen/USD. last monday It was the weakest since August 2015 before gaining slightly to 123.85 yen/USD.

Meanwhile, the Bank of Japan (BOJ) has offered to buy unlimited 10-year Japanese government bonds for the first time in the next three days, providing the highest yield. amid global debt sales and the announcement of the Federal Reserve's interest rate hike or Fed earlier this month.

The determination of "Haruhiko Kuroda", Governor of the Bank of Japan (BOJ) to stimulate the economy. Make the difference between US Treasury yields with the highest increase in bond yields since 2019

The yen has weakened more than 7% against the dollar this year. which is considered the most among the major competitors While analysts say that the higher interest rate spread This will further weaken the yen.

John Hardy, Head of Currency Strategy at Saxo Bank The Danish investment bank sees as long as global yields continue to rise. and the Bank of Japan pledged unlimited support to the bond market. The pressure on the yen to weaken will continue.

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