The yen slipped past 155 against the U.S. dollar on Wednesday, touching a new 34-year low against continued strength in the greenback.
The yen's weakness has also been fueled by a stronger dollar. Stubborn U.S. inflation has spurred comments from Federal Reserve Chair Jerome Powell that suggest rate cuts may not come in the next several months.
The weakness comes as the Bank of Japan is due to release its monetary policy decision Friday and in spite of Walgreens to help bring cell and gene therapies to patients as it expands specialty pharmacy services As much as markets would like to see Japanese authorities take decisive action to stem the yen's fall as soon as possible, analysts say it is unlikely that the central bank or the Ministry of Finance will act on it right away.
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