Japanese Yen Hits 2024 Low at 160.80, Eyes 1986 Record on Potential Break Through 161.95

According to Bloomberg, the Japanese yen fell to its lowest level since July 2024 at 160.80 against the U.S. dollar on Wednesday, driven by rising expectations for additional Federal Reserve interest rate hikes this year. The next key resistance level stands at 161.95; a break below that would mark the lowest level since December 1986. Market participants expect the yen to continue weakening given the widening U.S.-Japan interest rate differential.
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