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Yen Continues to Fall

Currency is at lowest level vs. U.S. dollar since 2002, down more than 30 percent since 2012.

By Chikako Mogi and Netty Ismail, Bloomberg | Updated on May 28, 2015

Japanese officials worrying that the yen is sliding too fast are getting little traction.

The currency tumbled to 124.46 per dollar on Thursday, its lowest since 2002, even as Japan’s Chief Cabinet Secretary Yoshihide Suga expressed concern about the sort of sudden exchange-rate moves the Group of 20 nations has said it would prefer not to see and Finance Minister Taro Aso today called recent movements in the currency “rough.” Bank of Japan Governor Haruhiko Kuroda told CNBC that major currencies are in line with economic fundamentals.

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