The Japanese yen falls to its lowest levels in four decades amid expectations for support
The Japanese yen traded close to its lowest level in four decades during Weak liquidity as a result of holidays in the United States and a number of Asian markets.
Neither the Central Bank of Japan’s raising of interest rates to the highest level in 31 years, nor the Ministry of Finance’s interventions to sell the dollar earlier, succeeded in curbing the decline of the Japanese currency; Which strengthened expectations of the possibility of new intervention.
In other currency markets, limited movements prevailed without significant changes, as the dollar index, which measures the strength of the US currency against a basket of Six currencies, at 100.81, and the British pound recorded $1.3205 after the Bank of England fixed interest rates at 3.75%, while the euro settled at $1.1459, the Australian dollar fell 0.1% to $0.7011, while the New Zealand dollar settled at $0.5756.
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