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USD/JPY: Why Is the Yen Strengthening?
The USD/JPY pair has been declining
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The USD/JPY pair has been declining for the second consecutive day, not just because of the overall weakening of the American currency. The yen is appreciating across the market, as indicated by the cross pairs involving the Japanese yen (GBP/JPY, EUR/JPY, AUD/JPY). At first glance, the yen's behavior seems illogical. Following the early elections held just recently, the incumbent Prime Minister Sanae Takaichi has solidified her power by obtaining a constitutional majority in the lower house of parliament.
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Irina Manzenko,
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