The Japanese yen slid to a nine-month low against the US dollar, breaching a closely watched threshold of 155 amid domestic policy uncertainties, fading expectations of a Federal Reserve rate cut in December, and amplified China-Japan tensions over Taiwan.
The yen’s exchange rate briefly weakened beyond 155.3 to the dollar on Tuesday before improving slightly, while broader markets also came under pressure. Stocks slumped, bonds were sold off, and long-term yields jumped to multi-decade highs, reflecting mounting anxiety over the government’s looming stimulus package and intensifying pressure on policymakers to steady the market.
