Japanese Yen Falls Below 160 Against US Dollar

Japanese outlets stress the impact of the weak yen on local stocks and living costs. They highlight the roughly 5% stock market drop and warn that a cheaper currency will raise import prices for fuel, food, and raw materials. Commentators say the government and the Bank of Japan face growing pressure to respond without choking off Japan’s fragile economic recovery.

• •Japanese commentators link the 5% stock market fall directly to concern over the yen breaking ¥160 per dollar.
• •Local reports warn that a weaker yen will push up electricity and gas bills for households.
• •Business groups in Japan argue that rising import costs will squeeze profit margins for manufacturers and retailers.
• •Some domestic voices urge the Bank of Japan to move faster toward higher interest rates to support the currency.
• •Others in Japan caution that aggressive tightening could hurt wage growth and consumer spending.