Japanese Yen hits a 34-year low against the US dollar; Japan's Finance Minister vows action.
The US dollar reached a five-month high against the euro and a 34-year low for the Japanese yen, which fell to 153.85 to the dollar. Japanese Finance Minister Shunichi Suzuki stated that the country will take "all necessary steps" to counter the yen's decline, which has reached a 34-year low against the US dollar. The yen weakened to around 153.70 in Tokyo, a level unseen since 1990, raising the possibility of government intervention. The rise in USD/JPY could be capped by Japanese authorities' jawboning while potential dips below the 154.00 mark may lead to a test of the 153.39 support level.
April 15, 2024
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