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
Twins bring Carlos Correa back from IL after 16
CHICAGO (AP) — The Minnesota Twins reinstated shortstop Carlos Correa from the 10-day injured list o2024-04-30U.S. leads world in economic coercion
(People's Daily Online) 16:42, August 11, 2023Cartoon by Ma Hongliang.The U.S. has initiated yet ano2024-04-30Commentary: Sowing discord, fanning flames no good for peace in Middle East
(Xinhua) 15:27, October 14, 2023BEIJING, Oct. 14 (Xinhua) -- A bipartisan delegation of the U.S. Sen2024-04-30Royal Marines preparing to lead 'Dunkirk
Royal Marines are poised to lead a 'Dunkirk-style' evacuation of thousands of UK nationals from the2024-04-30A second new nuclear reactor is completed in Georgia. The carbon
ATLANTA (AP) — The second of two new nuclear reactors in Georgia has entered commercial operation, c2024-04-30Xi Meets Russian Foreign Minister
Contact Us HomeNewsHighlightACWF NewsSocietyWom2024-04-30
atest comment