Yen drops to 20-year low against dollar

One dollar bought 126 yen at around 0630 GMT on Wednesday, the lowest rate since 2002

Apr 14 (enca.com) - The yen hit its lowest level against the dollar in two decades on Wednesday, extending recent falls as the gap widens between Japan's ultra-loose monetary policy and Fed tightening.

Despite being traditionally considered a safe-haven currency, uncertainty fuelled by Russia's war in Ukraine has not caused the yen to strengthen.

Instead, moves by the US Federal Reserve towards a more aggressive policy and the shock of rising oil prices in Japan -- a major importer of fossil fuels -- have pushed the currency lower, analysts say.

One dollar bought 126 yen at around 0630 GMT on Wednesday, the lowest rate since 2002.

"The Japanese yen has been one of the weakest currencies anywhere in the world this year," Dutch banking group ING said in a recent commentary.

"Driving the rally has been the perfect storm of a hawkish Federal Reserve, a dovish Bank of Japan (BoJ), and Japan's negative terms of trade shock as a major fossil fuel importer."

Earlier on Wednesday, Bank of Japan governor Haruhiko Kuroda said the bank would maintain its monetary easing policies in a bid to reach its long-held two-percent inflation target.

"Given the economy and price situation, the Bank of Japan will seek to realise its two-percent inflation target... by resiliently continuing its current powerful monetary easing," he said. ...continue reading

Do Bears Prefer Acorns or Berries?

Bear sightings across Japan have already climbed to nearly twice the level recorded during the same period last year, prompting entry bans in mountain areas behind Kyoto’s Ninna-ji Temple and the cancellation of hiking events in Kansai, while new research suggests that the key to reducing encounters may lie in understanding what bears eat in each region.

Copper Thieves Target Japanese Shrines

Copper roofing panels were stolen from several shrines in Hamamatsu, Shizuoka Prefecture, including a city-designated cultural property, in the latest case amid a nationwide surge in copper thefts targeting shrines and temples across Japan, where soaring metal prices have fueled crimes that leave historic religious buildings damaged, exposed to the elements, and facing repair costs of millions of yen.

1200-Year-Old Temple on Miyajima Reduced to Ashes

Flames broke out on the morning of May 20th on Miyajima Island in Hiroshima Prefecture, home to one of Japan's World Heritage sites, destroying Reikado Hall near the summit of Mount Misen.

From Bento Boxes to Garbage Bags, Rising Costs Hitting Daily Life Across Japan

Uncertainty surrounding the situation in the Middle East is beginning to affect daily life in Japan, as concerns over crude oil supplies spread to restaurants, cleaning services and even household garbage disposal systems across the Kansai region.

Tochigi Robbery-Murder Suspect’s Wife Posted Dance Videos on Social Media

A 25-year-old woman arrested as a suspected ringleader in a robbery-murder case in Tochigi Prefecture once posted cheerful dance videos on social media and was remembered by those who knew her as an energetic and outgoing young woman.

MEDIA CHANNELS

MORE Society NEWS

Garbage Burnoff Spreads to 3 Buildings in Okayama

A fire that broke out in Kagamino, Okayama Prefecture, shortly after noon on May 20th destroyed three buildings, including a home, after flames from open burning spread to dead leaves and then to nearby structures.

Gang Members Arrested After Opening Office Near Nursery

Six people, including a senior member of a group affiliated with the Sumiyoshi-kai crime syndicate's Kohei-ikka faction, have been arrested on suspicion of opening a gang office in a prohibited area near a nursery school in Tokyo's Itabashi Ward.

Six Police Officers Injured After Man Sprays Liquid at Station

A man who visited a police station in Hiratsuka, Kanagawa Prefecture, in the early hours of May 21st allegedly sprayed a transparent liquid inside the building, causing six police officers to complain of eye and throat pain and be taken to hospital with minor injuries.