Yen Weakens to Lowest Since 1986
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 26 2024
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Source: Barron's
- Japanese shares: Ended higher, led by chip and electronics stocks due to a weak yen boosting earnings growth expectations.
- Market data: Nikkei Stock Average rose 1.3%, USD/JPY exchange rate at 160.34, weakest since Dec. 26, 1986; 10-year Japanese government bond yield rose to 1.020%.
- Investor focus: On economic data and Japanese officials' comments on yen depreciation.
- Yen's weakness: Surpassed expectations, but could find support from higher bond yields as dollar rises above 160 yen.
- Japanese bonds: More attractive due to rising yields compared to foreign bonds with expensive currency hedging costs.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
