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
Johnston scores again and Stars beat Golden Knights 4
LAS VEGAS (AP) — The blast from the point hit Roope Hintz in the right arm, causing him to fall to t2024-04-30Pacers hit franchise playoff best 22 3
INDIANAPOLIS (AP) — Indiana center Myles Turner found a simple lesson from last week’s Game 1 loss.W2024-04-30Chinese, Thai tourist numbers surge
The number of Chinese tourists visiting Thailand has increased by 30 percent year-on-year, major Chi2024-04-30Scotland's leader faces a week of high
LONDON (AP) — Scotland’s leader is facing a week of high-stakes talks to save his job and reenergize2024-04-30US opens investigation into Ford crashes involving Blue Cruise partially automated driving system
DETROIT (AP) — Two fatal crashes involving Ford’s Blue Cruise partially automated driving system hav2024-04-30- This image captured at Beijing Aerospace Control Center on April 26, 2024 shows the Shenzhou-17 and2024-04-30
atest comment