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USDJPY rises to 24 year High of 144.98

  • 24-year low for the Japanese yen
  • The Bank of Japan kept its benchmark rate for short-term borrowing at -0.1%.
  • The decision was made shortly after the US announced a 75 basis point rate increase, its third consecutive increase.
  • The prolonged conflict in Ukraine has raised commodity costs, which are projected to put negative pressure on the Japanese economy.
  • Nevertheless, given the easing of the effects of COVID and supply chain difficulties, the economy is projected to rebound. In terms of cost.