The Japanese Yen remains under pressure and is currently trading at ¥111.70 against the US Dollar, its lowest since April 2019, having lost more than 1.7% to the greenback since markets opened on Monday.
The Japanese economy is facing a number of headwinds; several analysts believe the country’s economy to be on the verge of a recession, after the latest GDP number pointed at a year on year reduction in the size of the economy in the order of 6.3%. To make matters worse, the nation’s economic woes are being compounded by the coronavirus crisis, which is having an increasingly large impact on the region’s growth prospects. Several observers predict the next quarter to also point at a reduction in the size of the Japanese economy, which would translate into a technical recession. There may be further downside risk for the Yen in the weeks ahead, especially if the coronavirus crisis persists in the region.
Has undertaken a number of senior roles in his current employer including running the international desk, responsible for managing sales, customer services and marketing functions for a number of territories, as well as acting as a regular public speaker at events and contributor to TV and other media through interviews and market analysis. Since November 2016 he has been the Senior Executive Officer (SEO) of ActivTrades Dubai branch, having overall management responsibility of the branch. Prior to joining ActivTrades Ricardo worked in the IT and Financial industries.
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.