Japan’s yen has seen wild swings this year is it still a safe-haven asset? [Video]

Japanese 1,000 yen, 5,000 yen and 10,000 yen banknotes arranged in Kyoto, Japan, on Thursday, Nov. 2, 2023. The contradictions in Japan’s efforts to protect the yen while slowing the pace of rising bond yields are becoming increasingly clear in currency and debt markets. Photographer: Kentaro Takahashi/Bloomberg via Getty Images

Kentaro Takahashi| Bloomberg | Getty Images

Japan’s yen has traditionally been viewed as a safe-haven asset, shielding investors from the impact of economic and market turbulence — is that status intact after the wild swings in the currency this year?

Throughout most of 2024, the yen has seen sharp volatility, with the currency weakening to levels not seen since 1986 and prompting the Bank of Japan to intervene in July to support the currency. The BOJ had earlier stepped in to prop up the yen in May when it had depreciated to 160 against the U.S. dollar.

After the BOJ’s decision in July to raise …

Tags Business, Entrepreneur, Small Business, Startup