Yen breaches key 150 line vs. dollar, new 32-year low

The yen briefly breached the symbolic level of the 150 line against the U.S. dollar on Thursday, for the first time since August 1990, following a sharp rise in long-term Treasury yields and the prospect of aggressive interest hikes by the Federal Reserve.The yen's continued slide, weakening about 35 yen against the dollar since the beginning of this year, also reflects the tepid economic growth experienced by Japan as it grapples to recover from the coronavirus pandemic.The yen has been sold heavily in recent weeks, in defiance of implicit intervention warnings by Japanese policymakers, as…READ FULL ARTICLE