The Japanese yen has fallen to its lowest level against the US dollar in more than three decades as policymakers insisted that guiding monetary policy back to a normal setting would be a slow process.
In overnight trading the currency briefly slipped close to 152 against the dollar, the weakest exchange rate since 1990, when the Japanese economy was reeling from a stock market and property crash. The yen has since appreciated slightly against the greenback to 151.35.
Traders sold off the yen in response to Japanese policymakers suggesting that monetary policy will remain accommodative for some time despite the Bank of Japan (BoJ) raising interest rates last week for the first time since 2007 and easing its yield curve control policy.
The move ended
