Currency traders’ worries about Japan’s fiscal health sent the yen to the lowest level against the euro since the single currency’s 1999 debut. Prime Minister Takaichi Sanae’s economic package, likely to emerge as early as this week, is expected to be large in scale.
The Japanese currency weakened overnight in New York, briefly hitting the 180-yen level against the euro.
Market participants also expect no interest-rate hike in the Bank of Japan’s upcoming policy meeting in December.
The yen lost ground against the dollar as well in New York on Monday, bottoming at the lower 155-yen level at one point.
Analysts say investors are keen to gauge the scale of Takaichi’s economic measures and how she plans to fund them.
