Japan’s Yen Plummets to 34-year Low Against US Dollar

Former President Donald Trump has expressed concern about the depreciation of the yen.

People walk past an electronic board showing a share price of the Nikkei index of the Tokyo Stock Exchange (L) and the rate of the yen versus the US dollar (R) along a street in Tokyo, on March 27, 2024. Kazuhiro Nogi/AFP via Getty Images

Japan’s yen dropped to its lowest point in 34 years against the U.S. dollar on April 26, bolstered by the economic conditions as well as the monetary policies of both countries’ central banks.

In the New York foreign exchange market, the yen briefly fell to 158.44 yen per U.S. dollar, the lowest level since May 1990.