Japan's Currency Is In Crisis Against The U.S. Dollar

Yen Weakens Through 150 Per Dollar For First Time Since 1990 © Bloomberg 

 

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

* The Japanese yen weakened past 150 against the U.S. dollar, a key psychological level, reaching levels not seen since August 1990. 

* The Bank of Japan’s two-day meeting is slated for next week. Policymakers have ruled out a rate hike in order to defend against further weakening of the currency. 

* On Thursday, Reuters reported Japanese Finance Minister Shunichi Suzuki said the government will take “appropriate steps against excess volatility.” 

The Japanese yen weakened past 150 against the U.S. dollar, a key psychological level, reaching levels not seen since August 1990. 

The Bank of Japan’s two-day meeting is slated for next week. Policymakers have ruled out a rate hike in order to defend against further weakening of the currency. 

On Thursday, Japan’s 10-year government debt yields breached the 0.25% ceiling that the central bank vowed to defend – last standing at 0.252%. The yield on the 20-year bond also rose to its highest since September 2015.  

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WNU Editor: Japan is continuing to follow a policy of money printing and keeping interest rates near zero. This is not sustainable. The country is now facing inflation rates not seen in decades, and we should all be concerned on what is next. Japan is the largest holder of US Treasuries. If they start dumping their US holdings to support their currency, expect higher US interest rates in the near future. 

We are now seeing in real time the global results of US financial/monetary policies. The Japanese yen at record lows. The Chinese currency at lows not seen in decades. The EU trading below the US dollar, followed the UK Pound trading a record lows. Any doubts that the world is in a currency war with the US should be put to rest right now. 

Japan's Currency Is In Crisis Against The U.S. Dollar 

Japan ramps up intervention threats after yen slides past key 150 level, article with video -- Reuters 

Yen Traders Brace for Intervention as Currency Breaks 150 Level -- Bloomberg  

Yen crosses key ¥150 mark as inflation pressure mounts -- The Japan Times  

Japanese yen falls to more than 30-year low against dollar -- UPI