US EditionJapanese yen weakens to 160 against the U.S. dollar for the first time since 1990
- The Japanese yen reached its lowest point since April 1990, impacted by a holiday in Japan and traders testing key levels and stop-loss orders in a nervous market.
- Traders saw their stop-loss orders triggered at the 160 level, causing further decline in the yen as they squared positions.
- Markets are wary of Japanese authorities intervening to address the yen's 11% drop this year.
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Yen sinks to 34-year low past 160 per dollar
The yen sank to a new 34-year low past 160 per dollar on Monday after a forecast-beating US inflation reading dented expectations for US interest rate cuts this year. The greenback bought 160.17 yen in morning trade -- its weakest since 1990 -- fanning speculation that Japanese authorities would step…
·Sakado, Japan
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US dollar against yen reaches highest level in 34 years
For the first time since 1990, the exchange rate surpassed the 160 yen threshold on Monday, when expectations of lower interest rates in the US this year were somewhat diminished by reports of higher inflation than expected.
·Vilnius, Lithuania
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Total News Sources23
Leaning Left5Leaning Right5Center8Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 28%
C 44%
R 28%
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