Japan’s Yen Falls to Weakest in Almost 16 Years Versus Pound
- The yen has declined against all its Group-of-10 peers in 2024
- Currency hit by rate gap between Japan and other big economies
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The yen slumped to its weakest level in almost 16 years against the British pound, renewing concern over a currency depreciation that has dogged policymakers this year.
The Japanese currency slid 0.1% touching 200.63 per pound, its weakest level since August 2008. Traders have returned to betting on a stronger pound on the view that UK interest rates will stay higher than in most other Group-of-10 countries, with the Bank of England set to lag behind other central banks in easing.