020 7898 0500The Yen enjoyed a day in the sun yesterday as it gained strength against all other major world currencies. The widely criticised negative interest rates set by Japan’s central bank have seen the Yen go from strength to strength, which is not necessarily great news for Japanese businesses, as their exports become more expensive. The Central Bank continues to defend their decision to cut interest rates, which has had significant knock-on effects on other world markets, stating that it is working across some areas of the Japanese economy as originally intended. There is no further data expected from Japan until Thursday, when Bank of Japan Governor, Kuroda, speaks in Tokyo.
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