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The Japanese yen has reached a new 34-year low, falling past significant levels against the U.S. dollar, notably weakening to 158.33 and then to 160 for the first time since 1990. This decline coincides with the Bank of Japan's decision to maintain its interest rates between 0% and 0.1%, despite the currency's weakening. The situation has sparked discussions and suspected interventions by Japanese financial authorities to support the currency.
Japan intervened to prop up the yen after it hit a 34-year low against the dollar, people familiar with the matter said. The currency has plummeted against the dollar this year, hurt by increasing doubts about the timing of U.S. interest rate cuts https://t.co/JoCtMQALyM
You can't make this up: New evidence suggests the Bank of Japan INTERVENED on Monday when the Japanese Yen crashed. At 9:30 PM ET on Sunday night, the Japanese Yen weakened to 160 against the US Dollar for the first time since 1990. Then, exactly 2.5 hours after the headlines… https://t.co/kDSzImqBQQ
🇯🇵BOJ Accounts Suggest Japan Intervened Monday to Support #Yen “BOJ reported that its current account will probably fall ¥7.56 to ($48.2 bb) due to fiscal factors including government bond issuance & tax payments….suggesting intervention around ¥5.5tn” https://t.co/zJ7MfaeJkm https://t.co/E3w5jXx3PS