Yen hovers near 40-year low against dollar
Tourists check their phones outside a tax free shop in Tokyo on June 23, 2026, as the weak yen continues to draw foreign shoppers.(AFP)
Japan's finance minister said on June 23 that Tokyo was ready to take "resolute measures" as the yen came within a whisker of its 40-year low against the dollar.
The currency has been sliding for several years and has come under renewed pressure because of the Middle East war and the gap in US and Japanese interest rates.
Japan and the United States "are in a firm agreement that we would take resolute measures whenever necessary", Finance Minister Satsuki Katayama said after talking to US Treasury Secretary Scott Bessent, a conversation confirmed by the Japanese government.
