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- The Japanese yen weakened to its lowest level against the U.S. dollar since 1986 on Tuesday, keeping investors on alert for possible intervention from Japanese authorities.
- The yen weakened to 162.27 per dollar in early Asian trading, marking its lowest level in four decades.
The yen gained on Wednesday following a rally in Japan’s equities and bets on more fiscally responsible policies after Prime Minister Takaichi’s election win.Yevgen Romanenko | Moment | Getty Images
The Japanese yen weakened to its lowest level against the U.S. dollar since 1986 on Tuesday, keeping investors on alert for possible intervention from Japanese authorities.
The yen weakened to 162.27 per dollar in early Asian trading, marking its lowest level in four decades.
Chief Cabinet Secretary Minoru Kihara said at a regular press conference on Tuesday that the Japanese government will work to build an economy less vulnerable to foreign-exchange volatility while remaining prepared to intervene in currency markets if necessary. Kihara also declined to comment on the yen’s current level.
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The Bank of Japan recently raised its benchmark interest rate to 1%, the highest level in more than three decades, as policymakers continued the monetary policy normalization that began in 2024.
The quarter-point increase marked the central bank’s first rate hike since December, when it lifted rates to 0.75%, and brought borrowing costs to their highest level since 1995.
The move came as Japan grappled with rising inflationary pressures, partly fueled by higher energy prices during the Iran conflict.
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