Yen slides toward 1980s lows as Tokyo signals decisive action
TL;DR Summary
The yen weakened toward four-decade lows, trading around ¥161 per dollar and briefly hitting ¥161.80 in New York before trimming losses to about ¥161.3–¥161.4 in Tokyo. Finance Minister Satsuki Katayama warned that decisive action could come if the slide continues, echoing prior intervention that cost the government roughly ¥11.7 trillion. The Bank of Japan raised rates to 1% for the first time since 1995, but the yen’s weakness persisted amid expectations for further BOJ moves and strong US rate-cut pressure.
- Yen nears four-decade low, and Katayama issues warning The Japan Times
- Why Japan's $70 billion-plus intervention and a rate hike didn't prop up the yen more CNBC
- Yen teeters on cusp of 40-year low, pound firms Reuters
- Katayama Repeats Bold Action Warning With Yen Near 40-Year Low Bloomberg.com
- Yen falls after Fed decision, erasing intervention gains since April Nikkei Asia
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