Japan Warns of Yen’s  Rapid Rise
World Economy

Japan Warns of Yen’s Rapid Rise

Japan’s finance minister on Tuesday warned over the yen’s rapid rise after the dollar plunged to a seven-month low against the unit on fears over China’s economy and global growth, AFP reported. In Tokyo, the greenback fetched 119.94 yen following the comments, from 118.51 yen in New York where it fell at one stage to 116.18 yen, its lowest level since February. The dollar was above 124 yen last week. The euro bought 138.44 yen from 137.55 yen in US trading, while it slipped to $1.1541 against $1.1606. Japan’s Finance Minister Taro Aso on Tuesday cautioned over the yen’s rapid rise which he described as “rough”, and said Tokyo was in frequent contact with other G7 nations about the market swings. A rapid rise in the yen hurts major Japanese exporters such as Toyota and Sony by denting their competitiveness overseas and shrinking the value of repatriated profits. Economy Minister Akira Amari called for a “cool-headed approach”, but added that the shift into the yen “reflected the strength of Japan’s economic fundamentals”.


Short URL : https://goo.gl/tN7pFs
  1. https://goo.gl/UTpmlh
  • https://goo.gl/FKXKiW
  • https://goo.gl/hesnDr
  • https://goo.gl/5H56A3
  • https://goo.gl/I83Kzi

You can also read ...

Dubai’s new business licenses in the second quarter of 2018 were down 26% from the same period in 2016.
In Dubai’s posh Jumeirah Beach residence district, luxury...
French Foreign Minister Jean-Yves Le Drian addresses CEDRE Conference in Paris on April 6, with Lebanese Prime Minister Saad Hariri on his right.
With the FIFA World Cup over and French victory secured,...
Germany Lifts Turkey Sanctions
Germany has lifted economic sanctions on Turkey and relaxed...
Handout picture shows IMF Managing Director Christine Lagarde on a screen as she speaks  during the G20 meeting taking place in Buenos Aires, on July 21.
The International Monetary Fund warned world economic leaders...
Farnborough Airshow Announces $192b in Orders
England’s Farnborough airshow this week saw deals worth $192...
Australia  Faces Massive Economic Crash
Australia is facing an economic shock akin the global...
IFC to Inject $2 Billion in Egypt’s Private Sector
International Finance Corporation, a member of the World Bank...
According to a survey, 75.3% are facing difficulties in running their businesses this year.
South Korea’s major business lobby said Sunday it will file an...