Japanese yen weakens to 160 against the U.S. dollar for the first time since 1990

The yen briefly touched 160.03 against the dollar, the weakest level since April 1990 when it touched 160.15, according to FactSet data.The currency has languished alongside continued strength in the greenback as Federal Reserve rate cut expectations get pushed back. The Fed's preferred inflation gauge came in slightlyFeeling out of the loop? We'll catch you up on the Chicago news you need to know.

"If yen moves have an effect on the economy and prices that is hard to ignore, it could be a reason to adjust policy," Ueda said, according to a Reuters translation.in the yen, but have made no official announcements about bolstering the currency. Some market watchers had suspected authorities would intervene at the 155 level, but the yen slidVincent Chung, associate portfolio manager for T.

"The current pace of depreciation is less than in 2022 so the intervention response could be less intense," Chung said, noting option pricing suggests markets predict intervention could come after the BOJ's May meeting. Still, Chung said yen weakness has"positively impacted stock performance, encouraged corporations to raise wages, and moved the country closer to the Bank of Japan 's inflation target of 2%."The Fed will be the main event in the week ahead that includes a jobs reportMcHenry County

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Japanese yen touches 160 to the dollar; Asia stocks rise as Fed meeting loomsThe Japanese yen touched 160 against the U.S. dollar, while investors awaited Japan’s industrial production and retail sales data from March later in the…
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