JPY: A New Downturn – Overview for September 6, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/USDJPY_11-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="USD/JPY analysis today" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/usdjpy/" data-internallinksmanager029f6b8e52c="40" title="USD/JPY">USD/JPY</a> pair has surged to new heights.</p>

<p>The Japanese yen, in combination with the US dollar, is currently experiencing an intense devaluation phase. The present USD/JPY exchange rate sits at 147.41.</p>

<p>These levels mark the yen's lowest point in the past 10 months. Overall, the yen has shed over 12% of its value since the year's commencement.</p>

<p>The primary driver behind the JPY's decline is the significant <a href="https://blog.roboforex.com/blog/2019/10/22/trading-news-how-to-earn-on-interest-rates/" data-internallinksmanager029f6b8e52c="90" title="Interest rate">interest rate</a> differential. The Bank of Japan remains committed to an ultra-accommodative monetary policy, exerting considerable downward pressure on the yen.</p>

<p>Today, the nation's chief currency diplomat, Masando Kanda, has stated that authorities are ready to take action if speculative currency movements persist. Earlier, a Bank of Japan board member, Naoki Tamura, expressed his intention to maintain the current parameters of monetary policy, citing the need for further evidence of stable <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> growth.</p>

<p>The JPY is also under duress due to the US dollar's strengthening. The US currency is on the ascent as investors seek safe-haven assets amid global economic uncertainty.</p>

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