The yen is the main beneficiary of the weakness of the US dollar

Speaking about the risks of economic slowdown in the US, as a result of the lack of discussion of monetary policy by the head of the Federal Reserve Bank Janet Yellen in Jackson Hole, led to a depreciation of the dollar against the yen in the Asian trading session on Monday. “The yen is the most likely beneficiary of the weakness of the dollar, given that it has fallen quite significantly against its real effective exchange rate (REER), as well as the fact that the Bank of Japan has few tools to exert additional pressure on its national currency,” says Daisuke Karakama, chief economist at Mizuho Bank.

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