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Yen Hits 40-Year Low at 161.97 to Dollar Despite Past Interventions
The Japanese currency traded at ¥161.92 to the dollar in Tokyo on June 30 after touching ¥161.97 overnight. Finance Minister Satsuki Katayama said the government is prepared to act.
Jun 29, 7:28 PM·1m read2 sources
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The yen fell to levels last seen in December 1986, trading at ¥161.92 to the dollar when the Tokyo market opened on June 30. Overnight it broke through ¥161.96 and briefly reached ¥161.97 in New York on June 29. Finance Minister Satsuki Katayama said the government stands ready to take decisive action against the weakening of the yen.
The currency has tested four-decade lows for about a week. Japan’s key interest rate stands at 1 percent while the U.S. federal funds rate is in a range of 3.50 percent to 3.75 percent. The gap has kept pressure on the yen.
The yen last hit ¥161.96 on July 3, 2024. The government then spent about $37 billion to support the currency. In April 2026 the yen reached ¥160.72 and authorities spent a reported $73 billion in another intervention.
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CorroborationModerate · 2 sources
