Yen strengthens against US dollar after setting 37-yr high, intervention fears

TOKYO, 27th June, 2024 (WAM) -- The U.S. dollar fell to the mid-160 yen level in Tokyo on Thursday after touching a 37-year high overnight, as repeated warnings by Japanese authorities strengthened fears of intervention.

As WAM reported on Wednesday, after crossing the psychological barrier of 160, yen's fall accelerated. The currency touched 160.39 at one point in London trading hours, its lowest level since Dec