Yen plunges to 163 versus US dollar for first time in over 39 years

The yen briefly traded at 163 per US dollar in New York, unseen since December 1986, marking the first time it has hit that level in more than 39 years. The move reflects investors seeking the US unit as a safe asset amid escalating uncertainty tied to the US-Iran context, which has also pushed oil prices higher. A weaker yen makes Japan’s imports more expensive, adding pressure to households. In Tokyo, the dollar was around 162.6 yen late Tuesday.