Yen sinks to 34-year low past 160 per dollar

The yen sank to a new 34-year low past 160 per dollar on Monday after a forecast-beating US inflation reading dented expectations for US interest rate cuts this year. "Markets appear to be trying to push dollar-yen towards 160 in the absence of official intervention," said Vishnu Varathan, at Mizuho Bank.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/wShzBVD