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The Economic Times
The Economic Times
Business

Yen teeters on cusp of 40-year low as BOJ hike fails to stem rout

ING United States Iran

The dollar held firm against most peers on Friday, as a peace ​deal between the U.S. and Iran hung ​in the balance, pinning the yen around a two-year low, a break past which ​would take the Japanese currency to its weakest in 40 years.

The dollar climbed as high as 161.8 yen late on Thursday, closing in on July 2024's 161.96. Any higher would take it to its strongest against the yen since 1986.

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