Yen slumps to over 37-yr low vs. dollar in upper 160 range

The yen continued to fall against the U.S. dollar to the upper 160 range on Wednesday, hitting its lowest level in over 37 years in New York despite heightened vigilance about another market intervention by Japan to slow its rapid drop.At 5 p.m. in New York, the Japanese currency was traded at 160.78-88 against the dollar, its lowest level since December 1986, compared with 159.89-91 late Wednesday in Tokyo.The embattled yen also plunged against the euro the same day, briefly hitting 171.79, the lowest level since the European currency was introduced in 1999. The euro was quoted at 171.64-7…READ FULL ARTICLE