Japan's yen falls to its weakest since 1990 against the dollar
Time:2024-05-21 08:42:14 Source:healthViews(143)
NEW YORK (AP) — Some of the world’s wildest action in financial markets is roiling around the Japanese yen.
The value of Japan’s currency has tumbled so much that for a moment on Monday it took 160 yen to equal $1. A few years ago, it took closer to 100 yen to make a U.S. dollar. The yen has been so weak that it’s back to where it was in 1990, shortly after Japan’s famous “bubble economy” burst.
After it briefly touched the 160 yen level in overnight hours for traders in New York, the value of a dollar quickly shifted back to 156 yen by midday Monday on the East Coast. Such sudden moves can happen in the foreign-exchange market, which can be notoriously volatile. Trading may also have been jumpy because of a holiday in Japan that kept its stock market closed. But the speed and degree of the yen’s swings raised speculation about whether Japanese officials were making moves to prop up the value of their currency.
Previous:Baby Reindeer's real
Next:Elon Musk gets approval from FDA to implant his Neuralink brain chip into a second patient
You may also like
- Insider Q&A: CIA's chief technologist's cautious embrace of generative AI
- Ministry of Health proposes 134 job losses
- Congress PASSES two
- Ryan Gosling makes rare comment about daughters while discussing I'm Just Ken performance at Oscars
- Kevin Pillar gets 1,000th career hit in Angels' win at Texas
- Police build a case against Lego gang: Thieves steal $300,000 worth of high
- Gladiator II: Paul Mescal battles Pedro Pascal in first footage from Ridley Scott's highly
- Lionel Richie reveals being selected as performer at King Charles Coronation Concert was 'surprise'
- Jon Wysocki dead at 53: Staind drummer passes away