Yen Weakness Persists Amid Gradual Policy Normalization

The Japanese yen continued its modest decline against major currencies on August 5 in Tokyo foreign exchange trading. The yen traded at 157.78 per dollar, weakening by 0.06 yen or 0.04% from the previous day's 157.72.

This follows a slight 0.02% decline in the prior session, with the yen being sold off gradually amid a lack of clear directional conviction. The yen has weakened nearly 12% against the dollar year-to-date.

The yen also remained soft against the British pound, trading nearly flat at 212.10 per pound but hovering extremely close to its one-year high of 212.15. The yen has weakened a substantial 18.12% against sterling year-to-date.