Yen Weakens Past Critical 160 Level

2026-04-30 00:54 By Jam Kaimo Samonte 1 min. read

The Japanese yen weakened past the critical 160 per dollar threshold on Thursday, reaching its lowest level since July 2024, when authorities last intervened to support the currency.

Traders increasingly built short yen positions, wagering that neither further interest rate hikes nor official intervention would provide meaningful support in the near term.

Last week, the Bank of Japan kept its policy rate unchanged at 0.75% as it continues to balance inflation risks against slowing growth concerns linked to the Middle East conflict.

Three of the nine board members voted in favor of a rate hike, and Governor Kazuo Ueda reiterated the central bank’s commitment to gradual tightening, though the yen continued to weaken regardless.

Repeated verbal warnings from officials also failed to stabilize the currency, with Finance Minister Satsuki Katayama stating that authorities remain prepared to intervene in foreign exchange markets at any time to support the yen.



News Stream
Yen Weakens Past Critical 160 Level
The Japanese yen weakened past the critical 160 per dollar threshold on Thursday, reaching its lowest level since July 2024, when authorities last intervened to support the currency. Traders increasingly built short yen positions, wagering that neither further interest rate hikes nor official intervention would provide meaningful support in the near term. Last week, the Bank of Japan kept its policy rate unchanged at 0.75% as it continues to balance inflation risks against slowing growth concerns linked to the Middle East conflict. Three of the nine board members voted in favor of a rate hike, and Governor Kazuo Ueda reiterated the central bank’s commitment to gradual tightening, though the yen continued to weaken regardless. Repeated verbal warnings from officials also failed to stabilize the currency, with Finance Minister Satsuki Katayama stating that authorities remain prepared to intervene in foreign exchange markets at any time to support the yen.
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