GBP soars against the Japanese Yen despite low rates remaining in place
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Japan's economy has been regarded ever since the 1960s as an absolute lesson in socio-economic advancement to the extent that the entire world views Japanese products, cuisine, intellect and culture among the most enviable globally.
One particular Japanese motor manufacturer has used the slogan "The relentless pursuit of perfection" in its marketing to Western customers, and Japan's contribution to science, technology and consumer lifestyle trappings has been enormous for over six decades now.
Japan is in the top 3 economies by nominal GDP, after the United States and China, and the fourth-largest economy by PPP (purchasing power parity). In 2020, Japan was ranked eighth among the countries with the largest labour force, having 66.5 million workers.
The Yen, Japan's sovereign currency, may have experienced a lot of volatility over recent times, and there is no doubt that it has faced competition from even larger nations such as China and India, which are rapidly becoming huge tours de force in their own right, China's economy being by very far the largest in the world, and neighbouring nations in the Asia Pacific region such as Thailand and South Korea being homes to some very high volume manufacturing of everything from televisions and kitchen appliances to motor vehicles.
Japan remains utterly focused on its core industries, and its export market is as buoyant as ever; however, there have been a lot of metrics that show lower capacity and a country that has struggled with high costs compared to that of its neighbours.
On April 5th, the central bank of Japan published data reflecting that the country's economic output was below full capacity for the 11th consecutive quarter from October to December 2022, so the BOJ will unlikely end its ultra-low interest rates policy.
The British Pound rose considerably against the Yen late last week in the advent of such figures, showing that investors and traders expected such an outcome.
This morning, the depreciation of the Yen against western majors, including the Pound, has slowed, and the Pound is trading at 164.10 to the Yen.
VIEW FULL ANALYSIS VISIT - FXOpen Blog...
Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.
[You must be registered and logged in to see this image.]
Japan's economy has been regarded ever since the 1960s as an absolute lesson in socio-economic advancement to the extent that the entire world views Japanese products, cuisine, intellect and culture among the most enviable globally.
One particular Japanese motor manufacturer has used the slogan "The relentless pursuit of perfection" in its marketing to Western customers, and Japan's contribution to science, technology and consumer lifestyle trappings has been enormous for over six decades now.
Japan is in the top 3 economies by nominal GDP, after the United States and China, and the fourth-largest economy by PPP (purchasing power parity). In 2020, Japan was ranked eighth among the countries with the largest labour force, having 66.5 million workers.
The Yen, Japan's sovereign currency, may have experienced a lot of volatility over recent times, and there is no doubt that it has faced competition from even larger nations such as China and India, which are rapidly becoming huge tours de force in their own right, China's economy being by very far the largest in the world, and neighbouring nations in the Asia Pacific region such as Thailand and South Korea being homes to some very high volume manufacturing of everything from televisions and kitchen appliances to motor vehicles.
Japan remains utterly focused on its core industries, and its export market is as buoyant as ever; however, there have been a lot of metrics that show lower capacity and a country that has struggled with high costs compared to that of its neighbours.
On April 5th, the central bank of Japan published data reflecting that the country's economic output was below full capacity for the 11th consecutive quarter from October to December 2022, so the BOJ will unlikely end its ultra-low interest rates policy.
The British Pound rose considerably against the Yen late last week in the advent of such figures, showing that investors and traders expected such an outcome.
This morning, the depreciation of the Yen against western majors, including the Pound, has slowed, and the Pound is trading at 164.10 to the Yen.
VIEW FULL ANALYSIS VISIT - FXOpen Blog...
Disclaimer: This Forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as Financial Advice.