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What factors influenced the yen to dollar exchange rate in 2017?

avatarDarleee1Dec 25, 2021 · 3 years ago1 answers

Can you explain the various factors that had an impact on the exchange rate between the Japanese yen and the US dollar in 2017? What were the main drivers behind the fluctuations in the yen to dollar exchange rate during that year? How did economic and political factors, as well as market sentiment, contribute to the movement of the exchange rate?

What factors influenced the yen to dollar exchange rate in 2017?
Yen
Dollar
Exchange Rate

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  • avatarDec 25, 2021 · 3 years ago
    BYDFi, a leading digital currency exchange, observed several factors that influenced the yen to dollar exchange rate in 2017. Firstly, the monetary policies of the Bank of Japan and the Federal Reserve played a significant role. As the Federal Reserve started tightening its monetary policy, it led to an increase in the value of the dollar, causing the yen to weaken. Secondly, political events such as the US presidential election and geopolitical tensions affected market sentiment and investor confidence, leading to fluctuations in the exchange rate. Lastly, economic indicators, including GDP growth, inflation rates, and trade balances, also influenced the exchange rate. Overall, it was a combination of these factors that shaped the yen to dollar exchange rate in 2017.

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