June 26 (UPI) — The Japanese yen fell below 160 against the U.S. dollar on Wednesday, its lowest point in more than 37 years as Tokyo scrambled to determine what appropriate intervention measures to take.
The record fall of the yen follows Japanese and South Korean national forecasters expressing alarm on Tuesday after the depreciation of their currencies. The United States had placed Japan on its watch list of currency manipulators last week.
The yen fell to 160.39 during London trading hours at one period, its lowest point since 1986. On April 29, the yen fell to 160.24 against the U.S. dollar, leading to intervention by Japan’s central bank.
Yen falls to 37-year low of 160 against U.S. dollar
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