Note from the Publisher: If you trade forex for yourself or clients, and specifically the Japanese Yen, this makes for a very interesting read.
“In these days of economic turmoil, it is refreshing to see a country dealing with its fiat currency value due to positive reasons. While the Brexit is causing the GBP to plummet even further on a daily basis, Japan is facing a different problem. Their Yen is rapidly gaining in value, which is concerning the government all the same.
Japan is one of the largest economies in the world, and they are dealing with their own problems. But that is not diminishing demand for the Yen by any means. Since the Brexit result came through, the Yen gained 5% in value compared to the US Dollar. Quite a noteworthy increase, even though it is a continuation of previous gains….
It is clear one of the only courses of action for the Japanese government is purchasing foreign currency en masse. Bitcoin may present the solution they are looking for, as it can soak up a lot of money that needs to be spent. Moreover, Japan is warming up to the concept of Bitcoin and cryptocurrency as of late, which could spell a BTC price increase in the coming months.“