Monday saw the Japanese yen plunge to its lowest value since May 2009 amid conjecture that the Bank of Japan's monetary easing policies will continue pulling down the monetary unit, Bloomberg reports.
The yen slumped against all 16 of its top rival monetary units. The central bank of Japan committed last week to buying 7.5 trillion yen, which exceeds the 5.2 trillion that was forecast in a Bloomberg survey.
"The fleeting impact of the weak U.S. payrolls data shows a strong appetite to sell the yen and buy dollars. It has reinforced confidence that the yen weakening trend is intact," currency economist Lee Hardman with BTMU told Reuters on Monday.
The monetary unit of the Pacific Rim nation endured losses as high as 1.1 percent as Japan works on stimulating its economy, which is considered the globe's third largest.
The yen's losses against the common currency of the European Union on Monday brought it to its lowest value in about three years, according to Reuters. But how much more the yen will sink against the greenback is unclear amid economic data indicating the U.S. economy is slowing.
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