Yen weakens to 161.205 per US dollar after BoJ hike
The Japanese yen is hovering around its weakest point in almost four decades, trading at 161.205 per US dollar.
Even after the Bank of Japan (BoJ) raised interest rates to a 31-year high and the Ministry of Finance tried other interventions, the yen keeps sliding.
Investors are also uneasy about Prime Minister Sanae Takaichi's spending plans, which haven't helped confidence.
Fuel subsidies keep Japan inflation low
The BoJ's recent rate hike, its highest in 31 years, still wasn't enough to stop the fall.
Earlier government moves to prop up the currency haven't worked either.
Inflation in Japan has stayed below target for months, mainly because fuel subsidies are offsetting global price hikes.
Analysts say inflation could pick up by 2027 if energy costs keep rising, so everyone's watching closely to see what happens next with Japan's economy and currency.