The yen blew through the ?161-to-the-dollar mark overnight and approached levels not seen since the 1980s, though it pulled back just short of notching a multidecade record.
¡°When we act, we will act decisively,¡± Finance Minister Satsuki Katayama said Friday after the Japanese currency swooned dramatically at about 3 p.m. Thursday in New York and hit ?161.80 to the dollar.
In July 2024, the government intervened when the currency traded at ?161.95 to the dollar. If the yen moves beyond that level, it would be its weakest since December 1986.??
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