Yen breaks 155-level against dollar, BOJ meeting starts

The Japanese currency continues to weaken against the dollar, reaching near the mid 155-yen level. Investors are watching the pair closely as the Bank of Japan begins its two-day policy meeting.

Traders have been dumping the yen and scooping up the dollar on a robust US economy. They're also factoring in the view that the Federal Reserve will push back rate cuts.

The sentiment sent the yen below the 155-level in London and New York on Wednesday, for the first time since 1990.

Investors are also betting that the BOJ won't be hiking rates in the near future. The bank's policy board meeting starts Thursday.

Market watchers believe the interest-rate gap between the US and Japan is likely to remain, prompting a move to the higher-yielding dollar.

Japanese Finance Minister Suzuki Shunichi was asked about the falling yen on Thursday morning, but he declined to comment.