The Japanese yen reaches a new 40-year low against the dollar, though moves are limited as traders stay on high alert for any interventions by the country's authorities to halt the currency's decline. Japan could deliver another round of foreign exchange interventions, while the Bank of Japan could raise interest rates at their next meeting in July in response to the yen's weakness, TrinityBridge's Tony Whincup says in a note. "However, [Prime Minister Sanae] Takaichi's long-term economic blueprint calls for monetary policy that bolsters private demand, signalling a preference for keeping borrowing costs low." The dollar rises 0.3% to 162.50 yen, the highest since 1986, according to LSEG. It last trades at 162.41 yen. (renae.dyer@wsj.com)
Dow Jones Newswires
Japanese Yen Hits New 40-Year Low Against Dollar — Market Talk
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The Japanese yen reaches a new 40-year low against the dollar, though moves are limited as traders stay on high alert for any interventions by the country's authorities to halt the currency's decline. Japan could deliver another round of foreign exchange interventions, while the Bank of Japan could…