>>213487012
Japan is deliberately doing the weakest currency now. It's intentional to boost exports and prop up stock market valuations, and so far, it’s working within that goal.

Weak Yen improves the earnings of Japanese exporters when profits earned abroad are converted back into Yen.

Japan is on the reverse Plaza Accord.

Plaza Accord (1985) was intended to depreciate USD, by forcing the appreciation of JPY. In contrast, Japan is now allowed to depreciate its currency. This benefits Japan’s exporters, stock market valuations, and inflation targets (finally hitting 2% CPI target).

US now tolerates Japan’s Weak Yen, because China is the new trade target. Japan is seen as a key ally within their economic bloc. This makes Japan a more attractive supply chain hub, reducing China exposure.