Japanese automakers are getting much-needed cover from an old standby, as the weaker yen helps prop up profits amid declining sales in China and the increasingly tough shift to electric vehicles.
big exporters, although it is no longer as large a boon for‘ shares are quick to react to swings in theFor instance, Toyota has stuck to its forecast for an average exchange rate of 125 to the dollar this business year, a level not seen since April 2022, about a month after the U.S. Federal Reserve started raising interest rates.
against the dollar, but also against other currencies, including in Asia and Europe, so that comes through as a profit,” the official said.
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