Japan's currency, the yen, faces risks due to higher oil prices and dependence on energy imports.
Higher oil prices pose risks to Japan's currency, the yen, due to the country's dependence on energy imports. Crude oil futures rose 30% from a December low to a near six-month high, and a 10% oil price increase could pull down the yen by 3-4 yen against the dollar, according to Nomura Securities Co. The yen has been the worst-performing major currency this year, falling to a 30-year low against the dollar.
April 19, 2024
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