Yen hits 34-year low ahead of key US data

By Agence France-Presse

Mar 28, 2024 12:29 am

HONG KONG: The yen plunged Wednesday to a 34-year low against the dollar after a top Bank of Japan official indicated it would press ahead with a loose monetary policy, even after this month hiking interest rates for the first time since the global financial crisis.

The fall raised speculation that authorities would step into markets to support the currency after officials warned in recent days against speculation.

Pedestrians walk in front of an electronic board showing the yen versus US dollar exchange rate along a street in Tokyo on Wednesday, March 27, 2024. PHOTO BY KAZUHIRO NOGI/AFP

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