Yen drops to a 34-year low; will authorities step in?

The yen has tumbled well past levels touted as red lines for Japan, and at a pace that has traders asking when authorities might start buying the currency to support it – and why they haven’t done so already.

The yen fell past 160 per US dollar for the first time since 1990 on Monday in thin liquidity during a public holiday in Japan, after the nation’s central bank last week indicated financial conditions would remain easy.

Bloomberg