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The US dollar has hit a fresh 15-year low against the yen after meetings of the International Monetary Fund (IMF) and G7 finance ministers produced little to ease world currency tensions.
The dollar weakened against a basket of currencies and fell as low as 81.37 yen, before recovering to 81.99.
Friday’s weaker-than-expected US jobs data also raised expectations of more quantitative easing in the US.
The record low for the dollar is 79.75 yen, reached in April 1995.
Last month, the Japanese central bank stepped in to sell yen and buy dollars, in an attempt to weaken the value of the yen against the dollar.
A strong yen makes Japanese exports more expensive, and reduces profits when earnings are repatriated.
Although Japanese markets are closed for a public holiday on Monday, the dollar’s slide put markets on alert for further potential intervention by the Bank of Japan.
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