Japanese yen hits 150 against the U.S. dollar, weakest levels not seen since August 1990

Japanese yen hits 150 against the U.S. dollar

weakened past 150 against the U.S. dollar, a key psychological level, reaching levels not seen since August 1990.out a rate hike in order to defend against further weakening of the currency.breached the 0.

25% ceiling that the central bank vowed to defend – last standing at 0.2555%. The yield on the 20-year bond also rose to its highest since September 2015. The Bank of Japan also announced emergency bond-buying operations Thursday. It offered to buy 100 billion yen worth of Japanese government bonds with maturities of 10-20 years and another tranche worth 100 billion yen with maturities of 5-10 years. The central bank has repeatedly vowed to buy an unlimited amount of bonds at a fixed rate in order to cap 10-year government debt yields at 0.25% as part of its stimulus measures for the economy.

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