Yen Swings From 161.85 to 141.70 per Dollar in About Five Weeks

The yen strengthened sharply after July 11, 2024, moving from a 161.85 per US dollar high to a 141.70 low, according to Citigroup's August 5, 2024 yen note. The note measures that as a 12.5% drop from the high. The swing followed the yen's July 1 weakening past 161 per dollar, its weakest since 1986.