The Japanese currency weakened past ¥162 to the US dollar for the first time since December 1986 during morning trading in Tokyo.

The slump continues in the face of regime change at the Bank of Japan, which ended a negative-interest rate policy in 2024, raising expectations for a revival in the currency.

The yen slid to its weakest level against the dollar since 1986, a milestone that will generate unease in Japan. Find out more here

The yen sank past 161.96 per dollar for the first time since 1986 in London trade on Monday.

Markets weigh Takaichi's stance against pressure from weakening currency