Japanese Yen dropped 0.93%

During Wednesday, February 19, the Japanese Yen depreciated 0.93% or 103 pips against the US Dollar. Note that the Yen depreciated against other major currencies as well.  

Analysts suggest that the Japanese Yen tumbled as the demand for it as for the safe-haven currency also decreased.  

The Japanese economic growth is pressured by the decline of foreign visitors to the country due to the South Korean boycott and the coronavirus outbreak. Moreover, the Japanese financial organizations were forced to shut business operations in China due to the epidemics.