FOCUS: Weak yen morphs into new threat to Japan with surging energy costs

Economy

A weak yen typically serves as a boon to the export-driven Japanese economy. But when combined with surging crude oil and raw material prices, it leaves the economy facing a double-whammy that is set to crimp the economic recovery from the pandemic. The yen's recent slip to a nearly four-year low against the U.S. dollar coupled with a surge in U.S. oil prices to a seven-year high threatens to cut into household spending even as it still feels the impact of COVID-19. The combination is also set to make even more apparent the divergence between companies that have enjoyed a recovery from the pan...

Kyodo News

Kyodo News