Japanese yen hits lowest level against euro since 2008

ISTANBUL

The Japanese yen on Tuesday weakened beyond the 160 level to the euro, the lowest since August 2008, after the Bank of Japan announced further adjustments to its yield curve control policy.

The bank decided to set 1% as a new reference point for 10-year Japanese government bond yields.

After the decision, the USD/JPY parity also exceeded the 150 level on Tuesday.