Yen Hits 34-Year Low Against US Dollar Ahead of US Inflation Test
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#080c8e6b ver:1.16
The Japanese yen has reached a 34-year low against the US dollar, trading at 151.97 per US dollar in the Asia session. This is weaker than the level where Japanese authorities intervened in October 2022 and the weakest level since the middle of 1990. The yen is the worst-performing major currency for the quarter, down more than 7% against the US dollar. Finance Minister Shunichi Suzuki has warned against speculative moves and stated that Japan won't rule out any steps if the yen falls too fast. If the yen breaks the 152 per US dollar level, intervention is seen as more likely. The US dollar has climbed on strong US economic data, with the Chinese yuan and New Zealand dollar also weakening. The US dollar index is up 3% for the quarter. Other major currencies, such as the euro and sterling, ...
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