Accelerating yen depreciation and nobody could have imagined [Economic column]
2022-10-30 00:11:00
On the 20th of this month, the yen exchange rate fell to the 150 yen level against the US dollar, marking the lowest level of yen depreciation in 32 years. At the end of last year, economists and others predicted that the yen would trade between 118 and 122 yen to the dollar this year. Few people, even among experts, expected the yen to depreciate so quickly. In this column, we will once again look back at why the unexpected depreciation of the yen occurred. When I interviewed 15 people involved in the market, various unexpected things came to light. (Economics Department reporter Kei Nakazawa)
