Reported 9 months ago
According to NHK's report on June 26, 2024, the Japanese yen reached a record low of 160 yen against the US dollar in the New York foreign exchange market. This is the first time in 37 and a half years that the exchange rate has reached this level. The yen has dropped by about 2% in June and around 12% for the year. Japan's Finance Minister Suzuki Shunichi expressed a high level of vigilance regarding the market trends and potential impacts on the economy, emphasizing the importance of stable exchange rate variations and indicating a readiness to take necessary measures. The yen saw a slight increase in Asian trading to 160.63 yen per dollar but remains close to the recent low. Market continues to monitor the potential interventions by the government and the Bank of Japan, along with the upcoming US inflation data release over the weekend.
Source: YAHOO