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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
grocery-2-aa
Economic Updates
Inflation Update: Prices rise even slower in May 
June 5, 2025 DOWNLOAD
Buildings in the Makati Central Business District
Economic Updates
Monthly Recap: BSP to outpace the Fed in rate cuts 
May 29, 2025 DOWNLOAD
economy-ss-9
Economic Updates
Quarterly Economic Growth Release: 5.4% Q12025
May 8, 2025 DOWNLOAD
View all Reports
Currencies 2 MIN READ

Japan’s yen could drop to a record low this year

April 25, 2023By Reuters
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April 25 (Reuters) – During March’s turmoil, Japan’s yen barely rose and the failure to do so suggests the only remaining currency undermined by a negative interest rate will drop, and that fall could see yen reach a record low this year.

The perception USD/JPY gave when falling from 137.90 on March 8 to 129.65 during the time of the collapse of Silicon Valley Bank was misleading, with yen’s trade-weighted value rising just 0.38% in March as a whole.

Bets on yen falling have continued and most of these are likely carry trades and therefore yen sales to fund investments in higher yielding currencies, unaffected by the brief USD/JPY drop.

Since then, Bank of Japan policymakers have stated an intention to pursue super easy policy, maintaining yield curve control. With equities soaring, volatility sinking and USD/JPY rebounding – perhaps a short squeeze of those who bet it would fall due to the old correlation with yen as safe asset – there is cause to think yen could fall much further.

The next long term target for yen – which hit a more than 5 decade low before intervention last year – suggests a 10 percent decline to a record low.

(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)

This article originally appeared on reuters.com

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