Yen falls to new low

The Japanese yen hit new lows against major currencies, with the dollar and euro reaching significant highs. Japan's GDP contraction in the first quarter led to doubts about the country's economic recovery, potentially delaying a Bank of Japan rate hike. The yen's depreciation is influenced by weak economic data and higher US treasury yields, prompting concerns about intervention to stabilize the currency. Market forces reflect ongoing uncertainties, with implications for import-dependent sectors and exporters. The widening interest rate gap between Japan and the US drives investors towards higher returns, contributing to the yen's decline.