The yen fell below Y155 to the dollar

The yen-dollar exchange rate in the Tokyo foreign exchange market yesterday evening fell below 155 yen per dollar for the first time since June 1990. Today (April 25), the yen fell to 155.74 yen against the dollar in the Tokyo foreign exchange market. Japanese media said that after the psychological threshold of 155 yen to 1 dollar broke through, the momentum of selling yen to buy dollars may accelerate.

As the interest rate gap between Japan and the United States widened due to the high long-term interest rate in the United States, the market has been selling yen to buy dollars. Japanese media said that the market is expected to delay interest rate cuts by the Federal Reserve, while the Bank of Japan maintains large-scale monetary easing policies, and the depreciation of the yen has been delayed, which may lead to a further rise in imports and energy prices for Japan. Japanese Finance Minister Shunichi Suzuki told the upper House Finance Committee today that appropriate measures will be taken in response. Even with intervention, the effect of yen appreciation is generally considered to be limited.

Japan's Nikkei index closed down 831.60 points, or 2.16%. (Managing Editor: Zhu Xiaohang)