The yen fell below 156 against the US dollar on Friday in Tokyo, business agency Kyodo News reported on April 26.
Today, stock market players sold currencies after the Bank of Japan left its current monetary easing line unchanged.
The yen hit a new 34-year low after settling in the upper 155 zone this morning. The yen has been selling off against the dollar recently as strong U.S. economic data has fueled expectations that the Federal Reserve will keep interest rates high for a while. in a context of constant inflation.
At 3 p.m., the dollar was trading at 156.10-11 yen, compared with 155.59-69 yen in New York and 155.62-64 yen in Tokyo at 5 p.m.
The euro was trading at $1.0724-0728 and 167.40-47 yen against $1.0725-0735 and 166.94-167.04 yen in New York and at $1.0720-0721 and 166.83- 87 yen in Tokyo on Thursday night.
The latest market reaction comes after rumors emerged that the Bank of Japan could cut its bond purchases following reports that the bank was considering ways to reduce bond purchases at a policy meeting.
“There was speculation that some policy adjustment would be announced to curb the yen’s depreciation, but the outcome disappointed some investors and led to a sell-off in the yen.”said Takuya Kanda, senior researcher at Gaitame.com Research Institute.
Source: Rossa Primavera
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