Japanese yen hits 40-year low against US dollar, prompting intervention warnings
By
Quirino Mealha
Summary
The Japanese yen has fallen to approximately 162.4 per US dollar, its lowest level since 1986, marking a 40-year low. Despite the Bank of Japan's efforts to support the currency through interest rate hikes and record intervention, the yen continues to weaken. Japan's Finance Minister Satsuki Katayama has signaled readiness to take "decisive" action against excessive currency moves, and has confirmed with Washington that such intervention would be acceptable. Markets are on alert for potential direct government intervention to halt the yen's decline.
Source
bskyJapanese yen hits 40-year low against US dollar, prompting intervention warningsl.euronews.comKey quotes
· 3 pulledThe Japanese yen fell to around 162.4 per dollar in Asian trading on Tuesday morning, its lowest level since 1986.
The drop extends a punishing run for the yen, which has kept weakening despite the Bank of Japan's efforts to support it.
Japan's finance minister, Satsuki Katayama, has already responded to the situation by stating that the government was ready to take 'appropriate' and even 'decisive' action against excessive currency moves.
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