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.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at