The Japanese yen has experienced a significant drop, reaching its lowest level against the US dollar since 1990, with the $USDJPY rate now at 151.88. This decline has sparked speculation that Japan may intensify efforts to slow the yen's fall. The currency briefly touched ¥151.97 to $1, marking its weakest position in approximately 34 years. This situation underscores concerns about central bank policies, especially in light of recent rate hikes amid rising inflation.
Yen sinks to 34-yr low against US dollar https://t.co/bVi9iPCl0p
BREAKING: Japanese yen drops to lowest in 34 years despite BOJ rate hike. https://t.co/sdqUfxnSVj
The yen fell to a 34-year low against the U.S. dollar on Wednesday, briefly hitting ¥151.97 to $1. https://t.co/rJ0ajwu6aN