CurrenciesJapanese currency on steady decline after yen-buying operation over holidaysThe yen has steadily weakened amid growing expectations that the U.S. Federal Reserve will hold off on interest rate cuts this year. (Photo by Yoshikazu Imahori)Nikkei staff writersMay 15, 2026 04:47 JSTTOKYO -- The yen dropped to the 158 range against the dollar Thursday in the New York market, with the Japanese currency hitting its lowest level since the government's yen-buying intervention at the end of last month.