The yen exchange rate hits the lowest level in nearly 40 years.

This morning, in the Tokyo foreign exchange market, the yen fell further against the US dollar, dropping to 162.70 yen to 1 US dollar, hitting a new low since December 1986. Japanese Finance Minister Okatsuka Kataoka recently stated that the government will take appropriate measures whenever necessary in response to the issue of yen depreciation. Some analysts point out that due to strengthening US economic data reinforcing market expectations of long-term high interest rates, there has been an increase in selling of the yen, coupled with market concerns about the deteriorating fiscal situation in Japan, leading to continued pressure on the yen.