Japan's yen falls to its weakest since 1990 against the dollar
NEW YORK (AP) — Some of the world’s wildest action in financial markets is roiling around the Japanese yen.
The value of Japan’s currency has tumbled so much that for a moment on Monday it took 160 yen to equal $1. A few years ago, it took closer to 100 yen to make a U.S. dollar. The yen has been so weak that it’s back to where it was in 1990, shortly after Japan’s famous “bubble economy” burst.
After it briefly touched the 160 yen level in overnight hours for traders in New York, the value of a dollar quickly shifted back to 156 yen by midday Monday on the East Coast. Such sudden moves can happen in the foreign-exchange market, which can be notoriously volatile. Trading may also have been jumpy because of a holiday in Japan that kept its stock market closed. But the speed and degree of the yen’s swings raised speculation about whether Japanese officials were making moves to prop up the value of their currency.
Related articles
Who is Humza Yousaf's wife Nadia El
As Humza Yousaf sensationally resigned today, capping an extraordinary meltdown triggered by sacking2024-05-01German driver Nico Hülkenberg to leave Haas for Sauber next year ahead of Audi's arrival in F1
HINWIL, Switzerland (AP) — Formula 1 driver Nico Hülkenberg is leaving Haas for Sauber at the end of2024-05-01Experts share new achievements in Turfan studies
URUMQI, Aug. 25 (Xinhua) -- A conference on the inheritance and development of Turfan studies has at2024-05-01Jensen Ackles to play Justin Hartley's brother in CBS series Tracker
The CBS series Tracker has a new cast member - actor Jensen Ackles. Tracker star Justin Hartley, 472024-05-01Two Finnish passenger jets are forced to turn around mid
Russia is risking an air disaster as it continues GPS jamming, with navigation signal interference f2024-05-01Pet Shop Boys' 'Nonetheless' review: Catchy and bittersweet
Once upon a time, on Pet Shop Boys ' first single, “West End Girls,” vocalist Neil Tennant sang the2024-05-01
atest comment