USD/JPY Hits 40-Year High Above 163.00 as Yen Tumbles
The USD/JPY pair surged to a 40-year high above 163.00, driven by continued dollar strength and safe-haven demand.
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The Japanese yen fell to its weakest level in 40 years against the US dollar, with USD/JPY rising above 163.00. At the time of writing, the pair traded at 163.19, just below the multi-decade high.
The move extends the dollar's rally as haven demand deepens amid ongoing risk aversion. The greenback has been strengthening broadly, pushing the yen to levels not seen since the early 1980s.
Market participants are watching for potential intervention from Japanese authorities, though no official comments have been made so far.
Source: FXStreet Forex News