Overview

• The yen fell to 161 against the U.S. dollar, marking its lowest level since 1986.
• Japan's government has replaced its top currency diplomat, with Atsushi Mimura stepping in for Masato Kanda.
• Finance Minister Shunichi Suzuki has signaled possible market intervention to stabilize the yen.
• Analysts remain skeptical about the effectiveness of intervention given the interest rate gap between Japan and the U.S.
• The yen's decline is contributing to a boost in Japanese exports and tourism.