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JPY: Three drivers behind the fall
USD/JPY has just hit the 112.00 mark, moving towards levels last seen in December 2018. Along with a generalised strong-dollar environment, the yen has been the target of markets selling interest in the last few days, triggered by three main drivers. 1 Shifting from short-term to longer-term Covid-19 fears Firstly, fears around the Covid-19 virus seem to have partly eased. Figure 1 shows the number of globally confirmed cases and deaths, which seem to have decreased their rate of growth, or if anything, have not accelerated further. The feeling is that markets are shifting their worries from the short-term (i.e. an ... (full story)
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