Japanese yen sinks to 160.17 per dollar, lowest since April 1990, potentially prompting intervention by Japanese authorities for the first time since late 2022.
The downward spiral of the yen since early 2021 is attributed to the BOJ maintaining ultra-low interest rates, while other central banks have raised borrowing costs.
Weak yen benefits Japanese exporters and tourists but raises prices of imported goods, putting pressure on household budgets.
BOJ Governor Kazuo Ueda emphasizes that exchange-rate volatility will impact monetary policy if it significantly affects the economy and prices.
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