Yen Tumbles 1% Against Dollar Despite Japan Intervention Warning
- Yen hits a fresh 32-year low as US yields keep rising
- Authorities seen watching pace rather than levels to act
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The Japanese yen extended its slide against the US dollar, despite repeated warnings from authorities that they will intervene to halt the currency’s decline.
The yen fell more than 1% to 151.95 per dollar, a fresh 32-year low, as a surge in US yields to multiyear highs boosted the greenback. The continued slide after the currency breached the widely watched 150 level is increasing pressure on authorities to act.