The Japanese yen is at its weakest level in decades and is inflicting high costs of imported food and fuel on households and businesses, but is also proving to be an unexpected tailwind for multinationals such as pharmaceutical giant Takeda.
As the Bank of Japan reiterated its commitment to an accommodative monetary policy on Friday, affirming its position as a dove in a global environment of rising inflation, the yen retreated toward lows of ¥135.60 per dollar as he had achieved this week. It is down 14% against the US dollar this year.
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