Yen hits lowest level since 1990

The yen has reached its weakest level since 1990, raising expectations for intervention. The Japanese yen hit its weakest level against the dollar in nearly 34 years on Wednesday, rising slightly after falling to as low as 151.97. The yen has fallen below its previous record low of 151.95, reached in October 2022. Japanese officials have issued statements slamming the currency, with Finance Minister Shunichi Suzuki reportedly saying the country “will not rule out any steps to respond to irregular currency movements.”