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New Zealand markets closed
  • NZX 50

    11,946.43
    +143.15 (+1.21%)
     
  • NZD/USD

    0.5947
    +0.0011 (+0.18%)
     
  • NZD/EUR

    0.5547
    +0.0001 (+0.01%)
     
  • ALL ORDS

    7,937.50
    -0.40 (-0.01%)
     
  • ASX 200

    7,683.00
    -0.50 (-0.01%)
     
  • OIL

    82.98
    +0.17 (+0.21%)
     
  • GOLD

    2,331.30
    -7.10 (-0.30%)
     
  • NASDAQ

    17,526.80
    +55.33 (+0.32%)
     
  • FTSE

    8,040.38
    -4.43 (-0.06%)
     
  • Dow Jones

    38,460.92
    -42.77 (-0.11%)
     
  • DAX

    18,088.70
    -48.95 (-0.27%)
     
  • Hang Seng

    17,216.84
    +15.57 (+0.09%)
     
  • NIKKEI 225

    37,628.48
    -831.60 (-2.16%)
     
  • NZD/JPY

    92.5370
    +0.4220 (+0.46%)
     

Why the Yen Depreciated against the Dollar

Why the Yen Depreciated against the Dollar

The Japanese yen (FXY) closed the week at 110.67—compared to the US dollar (UUP) for the week ending June 15. A hawkish FOMC statement and the Bank of Japan’s uneventful policy meeting caused the yen to depreciate. The Bank of Japan chose to leave its ultra-loose monetary policy unchanged and presented a gloomy view of the economy at its May monetary policy meeting, which led to more losses for the Japanese currency.