Japanese yen hits lowest level since 1986
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The Japanese yen has fallen to its lowest level since 1986, prompting concerns of possible intervention by the central bank. Japan's Ministry of Finance and Central Bank previously spent $62 billion to stabilize the currency when it fell below 160. However, the yen has already dropped 5% since May. The currency's decline is attributed to sluggish export numbers, rising imports, and a growing trade deficit of $38 billion in the last fiscal year. Japan is currently following a 'hawkish stance' on interest rates, similar to the US Fed. The anticipation of an early stimulus is growing as the country faces a potential currency crisis amid rising debt. The Bank of Japan hinted at a July rate hike, marking a historic pivot from its decade-long policy of negative interest rates. The yen has experienced a currency plunge of over 13% in 2024 and has reached three-decade lows against the US dollar. It is one of the worst-performing currencies of the year.

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https://www.wionews.com/business-economy/japans-yen-hits-lowest-level-since-1986-735418