Yen Gains Traction as Investors Flee Dollar

Currency investors are shifting their focus from the US dollar to the Japanese yen due to its recent sharp decline in value.

According to five major commercial banks, the balance of yen deposits has increased by 4.88 billion yen compared to last month, reaching 1.1305 trillion yen.

This is a significant change from the end of last month when dollar deposits decreased by about 7.2 billion dollars over the same period.

The value of the yen has also fallen to the mid-850 won range per 100 yen, leading to increased demand for purchasing yen in advance.