The ongoing collapse in value of the Japanese Yen is one of the most important trends to observe in 2024. With debt to GDP ratio at 263%, Japan cannot defend the Yen by raising interest rates because the debt service costs would be too high, and so is caught in a trap as capital flight moves money out of low interest rate economies (Japan) to high interest rate economies (US). No one knows whats going to happen. Maybe nothing. Maybe a lot of things.
Succinct, digestible summary for those who want to know more.