Yen Hits Weakest Level Against Euro Since 2008 in Wake of BOJ
- Japanese currency slumps after Bank of Japan scraps guidance
- Central bank, under its new chief, will conduct a review
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The slump in the yen spurred by the latest Bank of Japan decision drove the currency to its weakest level since just after the collapse of Lehman Brothers Holdings Inc. in 2008.
The euro-yen cross rate rose as much as 1.8% to 150.43, a level last seen in September that year, as the Japanese currency dived on Friday against all of its major developed market peers. It was down as much as 1.9% versus the dollar, reaching 136.56 per greenback.