JPY/USD: Japanese Yen Falls to Lowest Against US Dollar Since 1990

The yen slid to the weakest level in about 34 years against the dollar, fanning speculation that Japan will step up its effort to slow the decline.

The currency declined 0.3% to 151.97 per dollar in Tokyo, passing the 151.95 level set in October 2022, as a hawkish Bank of Japan board member said financial conditions will remain accommodative. The yen subsequently pared losses after Finance Minister Shunichi Suzuki said Japan’s government will take bold action on the currency if necessary.