The currency plunged after the Bank of Japan ruled out an interest rate hike The Japanese yen hit its weakest exchange rate against the US dollar since 1990 on Thursday, dropping to 150 yen to the greenback. The Nikkei 225 stock index was also down, losing nearly 1% during morning trading to 27,006.96 points. The Topix index shed 0.51% to 1,895.41. Japanese Finance Minister Shunichi Suzuki threatened to intervene and vowed to take “appropriate steps” against currency market volatility. A previous slide of the Japanese currency was recorded in June, when it hit 132 against the dollar, the weakest level in 20 years
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