Japanese yen breaches 162-per-dollar mark for the first time since 1986, heightening intervention speculation.
The yen slumped to 162.41 against the dollar overnight, its weakest level in four decades. The move past the 162-per-dollar threshold has intensified market focus on potential government or central bank action to support the currency.
Prior to Tuesday’s drop, the yen had not traded below 162 JPY since 1986. Analysts had widely expected the currency to remain under pressure amid diverging monetary policy paths between the U.S. Federal Reserve and the Bank of Japan.
Traders are now closely monitoring official statements for signs of coordinated intervention, though no immediate market reaction was reported.