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Yen hits record lows versus dollar
The markets have been widely discussing the significant decline of the Japanese yen, which reached close to its lowest levels in about four decades against the dollar. It touched 163.24 during New York trading before trading above 163 in Asia. The news confirms that the yen's weakness is attributed to factors such as the rising dollar, supported by higher oil prices and increased yields on U.S. Treasury bonds, especially with the 30-year bond yield exceeding 5%. Despite Japan's previous interventions, authorities continued to send warning signals without taking strong measures. Analysts expect the USD/JPY exchange rate to fluctuate between 160 and 165, with the yen remaining weak due to Japan's negative interest rates.
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