YEN 118!

The Japanese yen just blasted through 118 against the US dollar.

Earlier on Wednesday, the yen briefly traded north of 118, but in evening trade, it definitively made its move lower against the dollar.

This is a seven-year low for the currency, which continues to tumble and has lost more than 30% of its value against the dollar since the start of 2012.

Here’s the chart of Wednesday’s move.

And the longer-term chart showing the yen’s multi-year tumble.

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