Japanese Yen Plunges to 32-Year Low Against US Dollar — Another Intervention by Authorities Expected
The Japanese yen’s exchange rate versus the U.S. dollar recently plunged to its lowest rate in 32 years — 147.66 JPY per dollar. The yen’s latest fall comes less than a month after its slip in September prompted authorities to enter foreign exchange markets for the first time since 1998. Gap Between US Treasuries and Japanese Government Bonds Widening The Japanese yen fell to a rate of 147.66 per dollar, its lowest exchange rate versus the U.S. dollar in 32 years, a report has said. The yen’s latest record-breaking fall came after official figures from the United States showed that prices had gone up faster than anticipated. The U.S. Federal Reserve has been using rate hikes to tame inflation but these have in turn caused the dollar to strengthen against other global currencies. However, unlike other central banks that have followed in the footsteps of the U.S. Federal Reserve and raised interest rates, the Bank of Japan (BOJ) is said to have maintained an “ultraloose monetary pol