New Delhi, June 30 -- Japanese yen slumped to a fresh 40-year low, while the dollar backed away from 13-month highs ahead of jobs data.

The yen weakened to 162.41 per dollar for the first time since 1986.

The Japanese currency was set for a 2% drop in the second quarter, its fourth straight quarter of decline, and its longest such streak since 2022, when it fell for seven consecutive quarters, as a wide interest rate gap drags on the yen, Reuters reported.

(More to come)

Published by HT Digital Content Services with permission from MINT....