Yulin's Decline Amid Government Efforts
The Japanese yen dropped to its lowest level since 1986 at 162.41 against the dollar, amid expectations of Japanese government intervention to support the currency, despite previous interventions and the Bank of Japan raising interest rates. The currency declined for the fourth consecutive quarter, driven by the wide gap in global interest rates and the impact of the war with Iran on inflation, despite interventions totaling 11.7 trillion yen.
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