Affair:
All the details:
Since mid-June, the yen has fallen sharply against the dollar, by nearly 30%.
Behind this figure, it actually means that the value of the Japanese people's deposits has shrunk by about one-third in an instant, and in this storm known as the "exchange rate hurricane", the Japanese people are generally angry!
After all.
These deposits are the result of decades of hard work, frugal living.
"A third of the money I worked so hard to save has evaporated like this?",
"I didn't do anything, why did my account balance suddenly decrease so much?",
"Who gave someone the power to devalue our currency?"
These angry voices echoed through the streets of Japan, and the emotions of the people were very emotional for a while.
In the face of such public outrage, officials of the Bank of Japan gave their explanations.
They see it as just a "normal monetary adjustment" process designed to boost exports and boost the economy
He also called on the public not to be overly worried
Japanese netizens:
The depreciation of the yen is tantamount to directly making these lifelines extremely expensive! Not to mention what boosts the economy, it is clear that it has pushed up the most basic cost of living!
Epilogue:
The yen, the Japanese currency, has recently come under pressure to depreciate sharply, with the dollar hitting a 34-year high against the yen, which is related to the behavior of global hedge funds and asset managers shorting the yen. The change in the expectation of a US interest rate cut has led to the return of international capital to the United States, further pushing up the US dollar index and depreciating other currencies such as the yen. Japan's unique interest rate differential environment provides an opportunity for carry trade, exacerbating the yen's downward trend. The Japanese government's intervention is considered insufficient to effectively block the actions of the capital market. The video analyzes the internal and external challenges that the United States and its allies may pose to the Japanese economy, and mentions the impact of the historical Plaza Accord on the Japanese economy.
If you are Japanese, the way is to exchange it for dollars before the yen depreciates, deposit it in a foreign bank, or put it under the bed. If you can't help it, don't save money, hurry up and spend, even if you buy beef, you can buy 30% more in 23 years than in 24 years, not to mention that the yen is still depreciating greatly in 24 years.
In the same way, if you are bearish on China and think that the renminbi will depreciate sharply in the future, then don't save money, and hurry up to spend, buy cars, buy furniture, and buy beef. Currency depreciation will inevitably lead to higher commodity prices. Now I am still saving money, but I am bullish on the RMB, at least I think that the RMB will not depreciate significantly.