Japanese Yen Weakens Against Dollar, Revisits 160 Level

Deep News09:10

The Japanese yen has declined once more, falling to a level of 160 yen per US dollar in Tokyo's foreign exchange market on June 3rd.

This follows a prior low of 160.7 yen per dollar recorded on April 30th. In response to the yen's persistent depreciation, Japanese authorities, including the government and the central bank, executed market intervention at that time, buying yen and selling US dollars.

Further intervention was also conducted during Japan's Golden Week holiday period in May.

These actions initially propelled the yen's value to a range around 155 yen per dollar. However, the currency has recently resumed its weakening trend.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment