Japanese Yen Slumps to Lowest Level Against US Dollar Since November 2022
While the Japanese currency is headed towards a downward trajectory, the US dollar has displayed a strong uptrend since the close of July. The Japanese yen experienced a massive decline on Monday, August 14, slipping to its lowest level against the US dollar for the first time since November 2022. This downward trajectory resulted in the yen breaking through the crucial 145 mark. According to a CNBC report, the currency briefly touched the same level last Friday before eventually recovering some ground. The decline has brought about speculation that the country‘s central bank, the Bank of Japan (BOJ), may intervene to restore the value of the Japanese currency. A recent Forex report released by HSBC on Monday provided insights into the potential outcomes of the bank’s support. The report suggested that the Japanese Ministry of Finance might consider intervention within the range of 145-148 to stabilize the yen‘s decline. It’s worth noting that both the BOJ and the Japanese government had previously intervened by purchasing yen when it breached the 145-to-dollar exchange rate in September 2022. One month after the government got involved, the currency declined further to 150% against the US dollar. Japanese Bonds Hit 10-Year High As BOJ Modifies Policy However, HSBC also









