The Japanese yen has fallen to its weakest level against the US dollar since 1986, putting traders on alert that officials might again be forced to step in to support the ailing currency.
The yen slipped 0.4 per cent against the dollar to ¥160.3 on Wednesday, past the level it reached in late April before Japan’s finance ministry spent a record ¥9.8tn ($62bn) to boost the currency.
Analysts expect Japanese officials to intervene again if the yen continues to decline, but warn that they will be reluctant given the cost of intervention and the relatively shortlived impact of previous efforts.
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