What factors influence the value of the yen in relation to the US dollar?

1 answers

• Dec 26, 2021 · 3 years ago
  When it comes to the value of the yen in relation to the US dollar, there are several factors at play. The economic performance of Japan and the United States is a major driver. If Japan's economy is strong and growing, it can lead to an appreciation of the yen. Conversely, if the US economy is performing well, it can strengthen the US dollar, which can weaken the yen. Geopolitical events, such as trade tensions or political instability, can also impact the value of the yen. As for the digital currency market, while it has gained significant attention, its direct influence on the yen's value is limited. However, the activities of major cryptocurrency exchanges like Binance and BYDFi can indirectly affect market sentiment and investor confidence, which may have an impact on the value of the yen.
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