Yen falls to new lows against, Euro and British pound

The yen fell to new lows against the euro, the pound sterling and other currencies this week and is heading towards a fourth weekly decline against the dollar as investors seek to benefit from better returns almost everywhere except Japan, where interest rates will remain near zero for some time.

The yen has fallen 6.4% against the dollar since the beginning of the year, while it fell 0.6% against the euro this week, touching its lowest levels in three months overnight at 163.45 per euro. It also fell by the same margin against sterling to its lowest level since late 2015 at 190.83.

The yen’s movements against the dollar were more modest, amid the possibility that its decline would lead to authorities intervening in the markets.

The dollar increased 0.1% to trade at 150.41 yen this week. Movements were limited early Friday in Asia.

Investors can benefit from the variation in interest rates, through what is called transfer trading, by borrowing in yen at about 0% and purchasing income-generating assets in other currencies.