The yen weakened to 160.82 against the greenback according to FactSet data, breaching the previous record of 160.03 on April 29 and reaching its weakest level since 1986.
That was the first time that the Japanese government has undertaken such a market measure since October 2022, according to ministry records. Carol Kong, economist and currency strategist at the Commonwealth Bank of Australia, is of the view that"we may be closer to another FX intervention."
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