Reported 4 days ago
The Japanese yen faced its most significant decline in over two years, falling more than 2% to around 146.51 per dollar, following comments from new Prime Minister Shigeru Ishiba that indicated the economy was unprepared for further interest-rate hikes. This downturn was compounded by dovish remarks from Bank of Japan Governor Kazuo Ueda and a strong US jobs report, leading traders to reassess expectations for Fed rate cuts, thus placing additional pressure on the yen.
Source: YAHOO