神戸須磨シーワールドの市民向け内覧会、倍率657倍で予想を上回る応募数　- 朝日新聞デジタル

In a surprising turn of events, the Japanese yen experienced a significant drop in value against the US dollar, reaching a level of 158 yen per dollar for the first time in 34 years. This plunge occurred in the New York foreign exchange market, setting a new record for yen depreciation. The trigger for this downward trend was the decision made by the Bank of Japan during its monetary policy meeting, followed by a press conference by Governor Katsunobu Ueda, which led to a further decline in the Tokyo market to the 156 yen range.

The implications of this sharp decline in the yen’s value are far-reaching, with both the government and the Bank of Japan closely monitoring the situation. Analysts are speculating on the potential impact of this currency fluctuation on the economy and what measures might be taken to stabilize the exchange rate.

This unprecedented drop in the yen’s value has sparked discussions among financial experts about the need for intervention to prevent further depreciation. The last time the yen traded at such a low level against the dollar was over three decades ago, making this recent development a matter of great concern for policymakers and investors alike. Stay tuned for more updates on this developing story.