Five reasons why the Japanese yen closed at a 34-year low ...Middle East

Thursday was the sixth-consecutive day of Japanese yen selling and it ended with a flourish. It left the US dollar higher by 83 pips against the yen to 158.91.That's only higher than a few hours on April 29 when the pair broke 160.00 in a rout before the Japanese Ministry of Finance intervened in a strong move that ultimately lowered the pair to 151.85.Why the yen weakness?1) The Swiss National BankThe SNB and Bank of Japan have long been brothers in the FX market as low-yielding central banks that have been fighting low inflation. The Bank of Japan is trying to hike rates but the cut from the SNB, which was partly a surprise, highlights that the BOJ is swimming against the current.2) Low in

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