The yen’s slump past the symbolic mark of ¥150 per dollar is keeping traders guessing when Japanese authorities will intervene to halt a further decline.
The currency has weakened by more than ¥4 per dollar since Japan stepped into the market in September, despite a barrage of warnings to dissuade traders from testing its resolve and speculation authorities were quietly intervening on a small scale. The Japanese currency slipped 0.2% to around ¥150.40 Friday, a 32-year low.
The ¥150 level was seen as important psychologically for Japan and a break may increase pressure on authorities to act. But officials have put the focus of their warnings on extreme and one-sided moves rather than suggesting they were watching any particular level.