Yen drops to 40-year low, dollar declines
The Japanese yen dropped to its lowest level since 1986 against the dollar, reaching 162.41, amid expectations that authorities will intervene to support the currency. This decline reflects the impact of the interest rate gap between Japan and the United States, as the market awaits U.S. employment data that could influence interest rate hike expectations. Despite Japan's previous interventions totaling $70 billion, the Japanese currency remains under significant pressure and is expected to continue falling for the fourth quarter in a row.
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