The yen plunged to a brand new 24-year low in opposition to the dollar on Thursday as Japan sticks with its long-standing financial easing insurance policies in distinction to tightening by the U.S. Federal Reserve.
One dollar was extra value greater than 140 yen for the primary time since 1998 in European afternoon offers, because the buck additionally strengthened in opposition to different currencies.
The yen has been falling in opposition to the dollar from round 115 in March, prompting analysts to level to the potential of authorities intervention.
The steep decline has primarily been pushed by the differing approaches of the Bank of Japan and different central banks together with the Fed, which have raised rates of interest to deal with hovering inflation fueled by the Ukraine conflict.
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Toyota unit Hino’s information scandal spreads to small vehicles
Nikkei – Aug 23
Toyota Motor unit Hino Motors on Monday revealed improper engine efficiency testing for its light-duty commerical vehicles, widening a top quality management scandal simply weeks after acknowledging it had falsified emissions exams on bigger automobiles for many years.
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