Japanese yen hits 34-year low

The Japanese yen hit a 34-year low of 155.74 yen to the dollar on Thursday. The yen's latest devaluation began in early 2022, in sync with the aggressive rate hikes by the U.S. Federal Reserve.

The Bank of Japan, faced with domestic deflationary pressures, maintained its negative interest rate policy till last month. Japanese Finance Minister Suzuki and other policymakers have said they are watching currency moves closely and will respond as needed.