Yen Fluctuations Impact Markets
The CEO of Mitsui OSK Lines, the world's largest owner and operator of oil tankers, expressed concern over fluctuations in the Japanese yen's exchange rate, which threaten to disrupt global financial markets. He confirmed that the stability of the yen between 150 and 155 yen per dollar is less than a comfortable level for companies, as it is currently trading around 153 yen following intensive interventions by Tokyo and Washington. Additionally, continued sharp volatility hampers the resumption of maritime routes through the Strait of Hormuz, with cargo ship movement declining to its lowest levels since May. Overcoming the crisis depends on long-term regional efforts.
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