Japanese Yen Falls to 148 per Dollar After Prime Minister Resigns
The yen weakened sharply in afternoon trading as markets reacted to the sudden resignation of Japan’s Prime Minister, pushing the currency to the 148 level against the U.S. dollar.
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Terms & Concepts
Foreign Exchange (Forex) Market: The global marketplace for trading national currencies, where exchange rates like USD/JPY are determined.
USD/JPY: The currency pair representing the exchange rate between the U.S. dollar and the Japanese yen, widely traded in forex markets.
Currency Depreciation: A decline in the value of a currency relative to another currency, reducing its purchasing power internationally.