The Japanese yen is once again showing signs of weakening against the US dollar, with the current USD/JPY exchange rate at 149.48.
Anticipated statistics may provide confirmation that the Japanese economy is reclaiming its position as the world’s fourth-largest, driven by factors such as a weakening yen and an ageing population.
Japan’s GDP in Q4 is expected to have expanded by 1.2% following a sharp decline last summer. The data is set to be released on Thursday.
For a nation that was once the world’s largest economy, slipping down the ranks of primary economic systems raises questions about its future development. Currency fluctuations, especially involving the JPY, play a role in distorting the overall economic picture. However, any substantial change is likely contingent on action from the Bank of Japan.
The post JPY is Facing Renewed Pressure to Retreat: Overview for February 13, 2024 appeared first at R Blog – RoboForex.