Japan business lobby to discuss negative impact of weak yen

Yomiuri (Japanese medi) with the report that Japan’s top business lobby, Keidanren, will discuss the potential negative impact of the yen’s weakness on the economy at its meeting next month, on December 4.

Keidanren is comprised of major companies including
big automakers and electronics firms. These have, in the past, favoured a
weak yen and have called on the government to stave off sharp
yen rises that make Japan’s exports less competitive overseas.

A shift by the lobby group to discuss the demerits of a weak yen highlights the new sensitivity in to the currency’s movement and its impact on the economy.

The concerns are linked to calls by the
business sector for the Bank of Japan to end ultra-low interest
rates that have been blamed for accelerating the yen’s decline. 


USD/JPY update:

usdyen weak 28 November 2023 22

This article was written by Eamonn Sheridan at www.forexlive.com. Source