Japanese Yen Hits 34-Year Low Against US Dollar, Prompting Warning from Finance Minister
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The Japanese yen has reached a 34-year low against the US dollar, trading at 151.97 yen per dollar in the Asia session. This marks a decline of about 0.2% and is the weakest level since the mid-1990s . The yen's depreciation has drawn comparisons to Japan's intervention in the foreign exchange market in 2022 when authorities defended the currency at 151.94 yen per dollar. Japanese Finance Minister Shunichi Suzuki has issued a warning, stating that Japan would take 'decisive steps' against excessive currency moves . The depreciation of the yen contributes to higher import costs and aids exports. The weakening yen is extending beyond its borders, potentially impacting the competitiveness of Chinese exports . Despite Japan's recent exit from negative interest rates, the yen remains the worst-...
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