Yen Slumps Near 4-Decade Low Amid US Dollar Strength and Fiscal Policy Concerns

The Japanese yen is trading near a four-decade low at around 163.7 per US dollar, despite repeated warnings of possible intervention from Japan's Finance Minister.

Traders have largely shrugged off these remarks, as well as reports that Bank of Japan officials are open to a faster pace of rate increases than markets currently expect.

The yen has fallen by 0.8% so far this week, putting it on track for its worst weekly performance since May, when it weakened following Japan's record currency intervention.