Japan's yen is in free fall! 📉💔 Last Thursday, the Bank of Japan (BOJ) decided to keep its interest rates near zero, leaving traders everywhere scratching their heads. The yen has plunged to levels not seen in decades against the U.S. dollar, with the USD/JPY pairing skyrocketing above 160 this Monday! 😱💸
Everyone was expecting BOJ Governor Kazuo Ueda to make a bold move to stop the yen's slide. But instead, he kept mum on the currency situation and simply hinted that rates might go up \"at some point.\" Talk about a plot twist! 🎭
With the BOJ sitting on the sidelines, investors are ditching the yen for higher-yielding currencies. Even though the BOJ bumped rates in March after a 17-year pause, it hasn't stopped the yen from dropping like a rock. 🚀🔻
So, what's next for Japan's currency? Will the BOJ finally step in and take action? The suspense is killing us! Stay tuned as this financial drama unfolds. 🎬🧐
Reference(s):
Japan was just given every excuse to trigger BOJ intervention
cgtn.com
