In a surprising turn of events, the Japanese government and the Bank of Japan are facing challenges as the yen hits a 34-year low against the dollar. The exchange rate briefly reached 155 yen to the dollar, marking a historic low. Despite their efforts at verbal intervention, the government and central bank have struggled to stabilize the yen’s decline.
With the yen’s depreciation showing no signs of abating, attention is now turning to the possibility of direct intervention in the foreign exchange market. The timing of such a move, known as “show of force,” is crucial and could have significant implications for the Japanese economy.
Meanwhile, in the wake of a series of health incidents related to supplements containing red yeast rice, Kobayashi Pharmaceutical has announced that it will start covering medical expenses for individuals who have sought medical treatment. The company’s supplements have been linked to health issues, prompting a response to address the situation.
As the government grapples with economic challenges and public health concerns, the decision to intervene in the currency market could have far-reaching consequences. Stay tuned for updates on this developing story.