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Yen Drops to Weakest Since 1990

Japan stepped closer to currency intervention with its strongest warning yet as the yen slid to the weakest level in about 34 years against the dollar.

The currency dipped 0.3% to 151.97 per dollar in Tokyo on Wednesday, passing the 151.95 level that prompted Japan to wade into markets in October 2022. Traders then backed away when Finance Minister Shunichi Suzuki ramped up his hints of possible action.

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