Yen slumps to over 37-yr low vs. dollar despite intervention threat

TOKYO, 26th June, 2024 (WAM) -- Japanese currency yen fell beyond 160 to the U.S. dollar to its lowest level in over 37 years, breaking key barriers despite heightened vigilance about another market intervention by Japan to slow its rapid drop.

Kyodo News reported on Wednesday that Japanese authorities have signalled in recent days their intention to respond to excessive volatility in the foreign exchange market,