Advertisement
Australia markets closed
  • ALL ORDS

    8,082.30
    -67.80 (-0.83%)
     
  • ASX 200

    7,814.40
    -66.90 (-0.85%)
     
  • AUD/USD

    0.6695
    +0.0015 (+0.22%)
     
  • OIL

    80.00
    +0.77 (+0.97%)
     
  • GOLD

    2,419.80
    +34.30 (+1.44%)
     
  • Bitcoin AUD

    99,891.57
    +2,300.86 (+2.36%)
     
  • CMC Crypto 200

    1,365.01
    -8.84 (-0.64%)
     
  • AUD/EUR

    0.6155
    +0.0016 (+0.26%)
     
  • AUD/NZD

    1.0905
    -0.0001 (-0.01%)
     
  • NZX 50

    11,699.79
    -28.27 (-0.24%)
     
  • NASDAQ

    18,546.23
    -11.73 (-0.06%)
     
  • FTSE

    8,420.26
    -18.39 (-0.22%)
     
  • Dow Jones

    40,003.59
    +134.21 (+0.34%)
     
  • DAX

    18,704.42
    -34.39 (-0.18%)
     
  • Hang Seng

    19,553.61
    +177.08 (+0.91%)
     
  • NIKKEI 225

    38,787.38
    -132.88 (-0.34%)
     

Japan's yen hits 155/dollar, weakest since 1990

April 24 (Reuters) - The yen fell on Wednesday to its weakest levels against the dollar since June 1990, with markets alert to any signs of intervention from the Japanese authorities to prop up their currency.

The dollar was last up 0.2% at 155.14 yen, its strongest since June 1990.

The decline in the yen comes after a string of strong U.S. inflation data pushed the dollar to five-month highs and reinforced expectations that the Federal Reserve is unlikely to be in a rush to cut interest rates this year.

The yen's slide against the dollar has revived anticipation of currency intervention. Japanese Finance Minister Shunichi Suzuki and other policymakers have said they are watching currency moves closely and will respond as needed.

ADVERTISEMENT

The strong dollar prevailed at last week's International Monetary Fund/World Bank spring meetings in Washington too, and the United States, Japan and South Korea issued a rare joint statement on the issue.

Speaking after the Group of 20 (G20) finance leaders' meeting in Washington, Bank of Japan Governor Kazuo Ueda said the Japanese central bank may raise interest rates again if the yen's declines significantly push up inflation, highlighting the dilemma the weak currency has become for policymakers.

The Bank of Japan concludes its latest policy meeting on Friday.

(Reporting by the finance and markets team)