Japan will struggle to rescue its plummeting currency

Japan will struggle to rescue its plummeting currency

Japan will struggle to rescue its plummeting currency

The yen is on a wild ride. As Asian markets opened on April 29th, the currency plunged to a 34-year low of 160 to the dollar, adding to a hefty fall over the past three years (see chart). A sudden reversal to more like 155 to the dollar prompted rumours of intervention by the Bank of Japan (BoJ).