The Yen Just Sank To A New Low

The yen is falling again today.

According to Reuters’ Eric Platt, at ¥94.81 the yen is now at its lowest level against the dollar since September 2010.

Earlier today, the Bank of Japan announced no change in its monetary policy.

However, everyone expects incoming BoJ head Hirohiku Kuroda to announce major easing measures in his efforts to stimulate the economy.  Most experts expect this to mean depreciation in the yen against other currencies.

Here’s the intraday chart via Bloomberg:

yen

Photo: Bloomberg

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