By MOOK Scenic Spots Editorial Team
The yen has been depreciating 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 cost of tickets to Tokyo Disneyland, Tokyo Tower, and Tokyo Skytree.
Yen cash selling rate falls to a 2-month low (Photo / MOOK Scenic Spots Zhang Yingying)
Earlier this month, the U.S. presidential election was won by Republican candidate Donald Trump. The market had expected more 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 yen cash selling rate also rose to 0.3066. The market was optimistic about the yen continuing to appreciate.
Yen cash selling rate drops to 0.286 (Image source / Bank of Taiwan)
However, after Trump's victory, the U.S. situation stabilized, and with the high probability of the U.S. Federal Reserve (FED) raising interest rates in December, the likelihood of the U.S. dollar index continuing to rise has increased significantly, leading to the yen's continuous depreciation since that day. There remains a possibility of further yen depreciation in the future.
Top handmade Japanese brands: Discover Japan’s most unique and original products
》http://www.mook.com.tw/article.php?op=articleinfo&articleid=14230