Yen Crashes to Near 40-Year Lows Amid Weakness Fears

The yen has suffered its worst week since May, reaching new lows against the US dollar. The currency dropped by about 0.9% so far this week and is on course for its worst weekly performance in more than two months.

This decline comes as investors bet on further weakness, despite intervention warnings from Japan's government. The yen has hit a fresh 40-year low of 163.99 against the dollar on Thursday.

The closely watched level of 165 per dollar is now within reach, sparking concerns among currency traders and economists. This week's losses mark the worst weekly performance for the yen since it weakened in May following Japan's record intervention.