Resource prices and the yen
The impact of rising resource prices since the beginning of the year has led to a significant depreciation of the yen.
This is because Japan, which relies almost entirely on imports for energy resources, purchases resources in dollars, causing a circulation of goods from yen to dollars to crude oil.
The situation is not limited to crude oil; natural gas and mineral resources are also affected, and as nearly all resources were rising, the yen continued to weaken.
The yen buying from late October coincided with the timing when the United States began intervening in crude oil prices, and crude oil prices have started to fall again here.
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