Electronic quotation boards display the yen’s rate of 138 against the US dollar at a foreign exchange brokerage in Tokyo on July 14, 2022. Photo: AFP
Electronic quotation boards display the yen’s rate of 138 against the US dollar at a foreign exchange brokerage in Tokyo on July 14, 2022. Photo: AFP
Currencies

‘Sell-the-yen’ trades crumble as recessionary fears cap yields, put pressure on oil and send traders scampering back to safe assets

  • The dollar-yen exchange rate, which soared 38 per cent from a March 2020 trough to mid-July this year, is in retreat
  • Strategists see the yen strengthening to 130 per dollar by the first quarter of 2023, a clear contrast with 140 and higher in mid-July

Electronic quotation boards display the yen’s rate of 138 against the US dollar at a foreign exchange brokerage in Tokyo on July 14, 2022. Photo: AFP
Electronic quotation boards display the yen’s rate of 138 against the US dollar at a foreign exchange brokerage in Tokyo on July 14, 2022. Photo: AFP
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