Salem Radio Network News Friday, July 1, 2022

Business

Yen dives, hits new 24-year low vs dollar

LONDON (Reuters) – The Japanese yen plunged on Tuesday to the lowest since October 1998, as the Bank of Japan’s ultra-loose monetary policy stance continued to weigh.

The yen dropped 0.8% to a 24-year low of 136.18 per dollar, extending losses after the Bank of Japan on Friday dashed any mild expectations of a change in policy and continued to stand alone in its commitment to ultra-easy monetary settings.

The yen was also down 1.2% to 143.655 per euro, its lowest level since June 9.

(Reporting by Samuel Indyk)

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