Yen Strengthens as BOJ and Fed Policy Rates Converge
The yen has reversed its downtrend against the dollar, moving closer to a 33-year low, as the policy rates of the Bank of Japan (BOJ) and the Federal Reserve (Fed) are set to align. While the weak yen has been detrimental to inflation, it has benefited Japanese exporters by increasing the value of overseas revenue when converted to yen, providing them with some relief.