Yen hits 34-year low against dollar
Japan’s yen tested its lowest level in 34 years as the central bank meeting began.
The blood loss continues. The Japanese yen fell to its lowest level in 34 years, exceeding 155 against the dollar.
The currency was last traded at 155.37 against the strengthening dollar.
Japanese officials have acknowledged that the yen has been weak for almost a month, but investors are waiting for clearer steps to stop the yen’s decline.
The Bank of Japan’s monetary policy decision on Friday will be closely watched for any action to counter yen weakness and inflation forecasts.