In spite of recent multi-day highs for the Yen, Denko Group expects downward pressure on the Asian currency as market fears are not isolated in Europe.
Forex analysts working in Singapore with Denko Group warned clients with Yen denominated investments that the worst is yet to come. Recently the Yen was among those currencies that were considered a safe haven, attracting capital at the expense to the troubled Euro. In the medium term, however, traders and investors alike are realizing that the Japanese market indicators are not so safe after all.
Currency appreciation is not the boon many think it is for net exporting countries. Indigenous exporters begin to struggle as their products become more expensive due to shifting exchange rates. This slows the GDP growth, slowing the economy and eventually putting downward pressure on the currency.
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