The yen may remain under selling pressure for some time, given the recent spate of unnerving economic and corporate news developments.
The market was stunned last week by the failure of Na- gasakiya Co., a midsize retail chain, and Moody's Investors Service Inc.'s reported move to review Japan's sovereign debt rating for possible downgrading.
It is now widely anticipated that official figures will show a fall in the nation's gross domestic product in the October-December quarter, marking the second consecutive quarter of decline.