Good news for Japan travelers: Yen hits 9-month low

By / MOOK Scenic Spots Editorial Team, compiled and reported

The yen has been depreciating continuously since November, significantly upgrading the travel experience for Japan enthusiasts. This morning, the cash selling rate at Taiwan Bank reached 0.286, the lowest since February. Compared to the closing price on the day of the U.S. presidential election, it has depreciated by 6%. For example, when purchasing NT$50,000, compared to the highest rate in the past six months, you can save as much as NT$1,875 — equivalent to the ticket prices for Tokyo Disneyland, Tokyo Tower, and Tokyo Skytree.

Earlier this month, the U.S. presidential election was won by Republican candidate Donald Trump. The market had expected greater uncertainty in the U.S. political and economic situation, which could have led to a surge in the prices of safe-haven assets such as the yen and gold. On that day, the cash selling rate for the yen also rose to 0.3066, and the market was optimistic about the yen continuing to rise.

However, after Trump's victory, the U.S. situation stabilized, and with the U.S. Federal Reserve (FED) highly likely to raise interest rates in December, the probability of the U.S. dollar index continuing to rise has increased significantly. As a result, the yen has continued to depreciate since that day, and further depreciation of the yen cannot be ruled out in the future.