Bank of America Warns of Potential Yen Plunge as Fed Delays Rate Cuts

Bank of America Corp. has issued a warning that the yen may plummet to 160 per dollar unless the Federal Reserve implements interest rate cuts this year. According to the bank's global head of Group-of-10 currency strategy, Thanos Vamvakidis, any attempt by the Bank of Japan to bolster the currency will likely be ineffective until the US takes steps to ease its monetary policy. The yen's decline has already reached three-decade lows and is on the verge of breaching the 152 per dollar threshold, which could prompt Japanese authorities to intervene to stabilize the situation.