Japanese yen nears 150 level against US dollar

Bank of Japan is expected to again intervene in currency market as yen approaches level unseen in decades

By Gokhan Ergocun

ISTANBUL (AA) – After hitting a 32-year low against the US dollar on Friday, the Japanese yen started this week continuing to fall.

USD/JPY parity saw the 148.8 level on Monday, nearing 150, a level unseen since February 1987.

Parity this January was at around 115.

After intervening in the market by buying yen and selling dollars, the Bank of Japan is expected intervene again.

While most world central banks, including the US Fed, European Central Bank, and Bank of England, have been raising interest rates gradually since the end of last year, the Bank of Japan kept the rate at the same level by continuing ultra-loose monetary policy instead of a hawkish stance.

Kaynak:

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