Yen Slides Past 160 Against Dollar for First Time Since 1990

Published: 29 April 2024 at 03:08

(Bloomberg) -- The yen tumbled past yet another psychological milestone for the first time since 1990, raising questions about why the Japanese authorities dont appear to have stepped in to support the currency. Most Read from Bloomberg Musk Makes Surprise China Visit in Search of Tesla Revenue Boost Elliott Said to Have Built Large Stake in Buffett-Favored Sumitomo Yen Watchers Ask When Japan Will Step In as Slide Accelerates Blade to Offer Luxury Bus Service to Hamptons at Fare Up to $275 BHPs $39 Billion Copper Play Was Years in the Making The Japanese currency dropped as much as 1.2% to 160.17 per dollar on Monday amid thinned liquidity due to a local public holiday, before trading at 159.17 as investors pile on bearish positions ahead of the Federal Reserves meeting later this week.

DEEP DIVE

SOURCES

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