Yen Hits 34-Year Low Against Dollar, Intervention Expected
The yen plunges to its weakest level against the dollar since 1990, hitting 151.97, just below its previous low of 151.95 in October 2022. Japanese officials, led by finance minister Shunichi Suzuki, signal readiness to intervene against disorderly FX moves. Bank of Japan Governor Kazuo Ueda underscores vigilant monitoring of currency shifts and their economic repercussions. Ueda emphasizes the significant impact of currency movements on Japan’s economy and prices, during his parliamentary address. This comes amidst recent policy adjustments by the central bank. (Reuters)
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