'The Japanese yen's value plummeted against the US dollar, reaching a new low not seen in over three decades. Concerns mount that this significant depreciation may compel Japan to intervene in the currency market to stabilize its value.
On Wednesday, the yen's value declined by 0.2%, reaching a session low of 155.17 per dollar. This marked the first time since June 1990 that the yen had crossed the 155 level against the greenback.
However, the yen partially recovered from its跌勢, with its value hovering around 154.92 as of 9:10 AM New York time. Despite this slight improvement, the risk of intervention by the Japanese government remains elevated, regardless of the specific value of the yen.
Japanese officials have repeatedly indicated their readiness to take necessary measures to address excessive fluctuations in the yen's value. Their focus is less on a specific numerical threshold and more on the pace and magnitude of the currency's depreciation.
In the year to date, the yen has experienced a significant decline of approximately 9% against the dollar, reflecting the broader weakness of the Japanese currency in recent times.'
