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Yen Plunge Worsens Despite Strongest Government Warnings Yet

  • Rapid depreciation has increased speculation of intervention
  • Comments from officials fail to stop breach of 144 to dollar
Bloomberg business news
WATCH: Chris Wood, global head of equity strategy at Jefferies, says BOJ’s yield-curve control policy “doesn’t make any sense.”Source: Bloomberg
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The yen has slumped to a level that leaves it on track for its worst year on record, prompting the strongest warnings to date from senior Japanese government officials aimed at stemming the slide.

The currency fell as much as 1.5% to 144.99 per dollar Wednesday, coming within a whisker’s reach to 145 per dollar. It is the yen’s third day of declines as a fresh wave of dollar strength ripped through Asia and beyond, putting pressure on a range of foreign exchange markets.