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The U.S. dollar rises to new 34-year highs in Tokyo in the upper 155 yen range, as currency traders tested the limits of the yen's weakness amid speculation that a market intervention by Japanese authorities is still a way off.
Japan will take appropriate action to counter excessive volatility in the currency market without ruling out any options, Finance Minister Shunichi Suzuki says, as the yen weakened further and neared the psychologically important 155 line against the U.S. dollar.
In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.3%, paring some earlier losses, while Japan's Nikkei dropped 0.5%.
The yen fell into the 152 range against the U.S. dollar on Wednesday in New York for the first time in nearly 34 years as strong U.S. inflation data added to expectations that the Federal Reserve will
The yen briefly hits a 34-year low near the 152 line against the U.S. dollar in Tokyo on renewed expectations the Bank of Japan will maintain its accommodative stance even after raising interest rates for the first time in 17 years.