Yen plunges past 160 against dollar for 1st time in 20 months
Currencies
High oil prices from Iran war prompt flows into greenback, raises intervention speculation
Japan’s dependency on imported energy is weighing on the yen. (Photo by Shinya Sawai)
NEW YORK — The Japanese yen on Friday weakened past the psychologically important mark of 160 to the dollar for the first time since July 2024 as Middle East tensions spur buying of the greenback. The depreciation has raised speculation that Japan’s financial authorities might intervene.
