Japan's yen falls to its weakest since 1990 against the dollar
NEW YORK (AP) — Some of the world’s wildest action in financial markets is roiling around the Japanese yen.
The value of Japan’s currency has tumbled so much that for a moment on Monday it took 160 yen to equal $1. A few years ago, it took closer to 100 yen to make a U.S. dollar. The yen has been so weak that it’s back to where it was in 1990, shortly after Japan’s famous “bubble economy” burst.
After it briefly touched the 160 yen level in overnight hours for traders in New York, the value of a dollar quickly shifted back to 156 yen by midday Monday on the East Coast. Such sudden moves can happen in the foreign-exchange market, which can be notoriously volatile. Trading may also have been jumpy because of a holiday in Japan that kept its stock market closed. But the speed and degree of the yen’s swings raised speculation about whether Japanese officials were making moves to prop up the value of their currency.
Related articles
Convicted robber, 45, admits stabbing charity busker, 87, while riding his mobility scooter
A convicted robber has admitted stabbing an elderly mobility scooter rider to death in a 'motiveless2024-05-01I auditioned for Britain's Got Talent ten years ago and it looks nothing like what you see on TV
A TikTok vlogger has shared a shocking revelation about her experience on Britain's Got Talent as a2024-05-01Danny Dyer 'charges fans nearly £100 for selfie and autograph during meet and greet in Liverpool'
Danny Dyer is reportedly set to charge his fans nearly £100 for a quick selfie and an autograph.The2024-05-01- Roman Gabriel, the former North Carolina State quarterback who was the 1969 NFL MVP with the Los Ang2024-05-01
I was single for six years because I'm too hot to date and men are 'scared off' by my good looks
A woman claims she was single for six years because she's too hot to date, and men are intimidated b2024-05-01Queen Mary of Denmark shares sweet portrait of daughter Princess Isabella
Queen Mary of Denmark has shared heartwarming pictures of her daughter Princess Isabella to mark he2024-05-01
atest comment