34-year low yen against the dollar prompts Japan's strongest warning of direct intervention.

The yen reached a 34-year low against the dollar, prompting Japan's strongest warning yet of direct intervention to slow the decline if needed. The currency dropped 0.3% to 151.97 per dollar, passing the 151.95 level that triggered intervention in October 2022. Finance Minister Shunichi Suzuki warned of bold measures against excessive moves, suggesting direct intervention in the currency market.