The yen’s depreciation is spreading beyond the US dollar, with exchange rates against such currencies as the euro and Singapore dollar approaching historic lows. In Tokyo on Tuesday, the yen hovered around 150 to the dollar, up more than 1 yen from this year’s low of 151.74 set on October 31.
The yen touched the 161 level against the euro at one point on Tuesday, the weakest since August 2008. Against the Singapore dollar, the yen fell to the 111 level, the lowest since 1985. The Japanese currency also briefly fell to 97 yen to the Australian dollar, the lowest level in four and a half months.
The yen’s weakness is also apparent in the trade-weighted Nikkei Currency Index, a measure of overall strength for a wide range of currencies.
Source: asia.nikkei.com
