I thought (not being in finance) that the exchange rate reflects supply and demand for Yen, which depends on: * Demand for products sold internationally and d

I thought (not being in finance) that the exchange rate reflects supply and demand for Yen, which depends on: * Demand for products sold internationally and denominated in Yen (not US dollars, for example). * Demand due to perceived risk of the Yen's future value * Supply of Yen printed by the government * Supply due to Yen sold to purchase imports Maybe some other things I'm not thinking of.