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Yen tumbles past 158 against dollar on stubborn U.S. inflation

Japan's currency in intervention territory, but stepping in unlikely to work: Mizuho

The yen hit a new 34-year low against the dollar on April 26. (Photo by Takaki Kashiwabara) 

TOKYO/NEW YORK -- Japan's currency fell past 158 yen to the dollar on Friday in a quickening sell-off after the Bank of Japan left interest rates unchanged, even as the outlook for an early U.S. rate cut fades.

Hitting the 158 level marks a new 34-year low for the yen, which had been hovering in the mid-155 yen range before the BOJ decision.

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