RECORD WEAKENING OF YEN

THE yen fell past the key psychological level of 150 to the dollar this week for the first time since 1990, defying Japanese policymakers’ threats of intervention to address excessive currency market volatility. Tokyo is under pressure to step into the currency market again to rein in the yen’s decline, which is adding to the country’s swelling import bill. The Bank of Japan is set for a policy meeting next week, when it is expected to maintain its ultra-low interest rates that are blamed for pushing down the yen. |