What are the factors influencing the yen to US dollar exchange rate in the cryptocurrency market?

1 answers

• Mar 22, 2022 · 3 years ago
  As an expert in the cryptocurrency market, I can tell you that the factors influencing the yen to US dollar exchange rate are similar to those in the traditional forex market. Factors such as interest rates, inflation, economic indicators, and geopolitical events can all have an impact on the exchange rate. However, in the cryptocurrency market, there are additional factors to consider. The overall market sentiment towards cryptocurrencies, the adoption and acceptance of cryptocurrencies in Japan and the US, and the trading volume of yen and US dollar in cryptocurrency exchanges can also influence the exchange rate. It's important to stay updated with the latest news and trends in the cryptocurrency market to understand the factors affecting the exchange rate between the yen and the US dollar.
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