Yen weakens past 160 per US dollar for 3rd consecutive session as intervention looms

China

Yen weakens past 160 per US dollar for 3rd consecutive session as intervention looms

2026-06-05 14:17 Last Updated At：18:47

The Japanese yen briefly weakened past the key 160-per-dollar level in early trading on Friday, marking the third consecutive session to reach that threshold as market attention turned to possible official intervention.

According to the Bank of Japan's daily foreign exchange rates, the dollar traded in a range of 159.60 to 160.05 yen on Thursday, with a central rate of 159.90 yen.

The yen's slide came amid heightened uncertainty over the Middle East situation. On Wednesday, the currency briefly touched 160 yen per dollar, its weakest level since Tokyo intervened in late April. Japanese authorities reportedly spent a record 11.73 trillion yen (about 73 billion U.S. dollars) on intervention between April 28 and May 27, setting a monthly record.

Finance Minister Satsuki Katayama has reiterated that Japan is ready to respond appropriately at any time and reserves the right to take decisive action against excessive volatility.

The yen is on track for a fourth straight week of decline, a losing streak not seen since February, putting pressure on policymakers to step in again.

Chinese premier meets visiting Lao president on relations

Chinese Premier Li Qiang met with visiting Lao President Thongloun Sisoulith in Beijing on Friday to discuss relations between their two countries, saying that China is willing to strengthen the alignment of development strategies with Laos.

Noting that this year marks the 65th anniversary of the establishment of diplomatic relations between China and Laos, Li said China is also willing to deepen cooperation with Laos in the fields of trade and investment, railways, energy and minerals, the digital economy and people-to-people exchanges, accelerate the construction of the China-Laos Economic Corridor, enhance multilateral cooperation and coordination, promote the building of a China-Laos community with a shared future to a higher level, and continuously improve the well-being of the two peoples.

At the meeting, Thongloun Sisoulith, also general secretary of the Lao People's Revolutionary Party Central Committee, expressed appreciation for China's long-standing support and assistance to Laos. He said Laos will firmly adhere to the one-China principle, strengthen practical cooperation with China in various fields, and promote the building of a Laos-China community with a shared future to achieve more results.