Japanese yen nears 40-year low against US dollar

Yen slides past 161 against the dollar, nearing 40-year low and reviving intervention bets

Yen breached 161 per dollar—40-year low—despite $70B interventions and rate hikes, revealing structural weakness tied to US Treasury yields. Weakened yen supports exports but risks imported inflation and household spending erosion, constraining domestic tech demand.