Japanese Yen Slumps to Lowest Level Since 1986

The Japanese yen has weakened to its lowest level against the U.S. dollar since December 1986, raising speculation that the government might be forced to intervene again to prop up the currency and limit the damage from the sharp selloff. The USD/JPY exchange rate widened during the June 26 trading session, to as low as ¥160.66/$1.00. Year to date, the yen has slumped nearly 14 percent against the greenback. Over the last three years, the Japanese currency has also lost about one-third of its value. A weakening yen has raised import prices in Japan by nearly 7 percent in the last year, weighing on consumer finances and creating uncertainty for  businesses....