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However, following the decline the US currency rallied almost immediately to rise to an intraday high of 76.20 yen.
At its lowest, the dollar was trading at a level close to 75.941 yen seen in August this year, which was the lowest amount on record since WWII.
When trading finished yesterday, the dollar was valued at 76.35 yen, which was down 0.2 per cent on the day before.
A trader at a major bank in Tokyo commented: "Market players are probably just wary about the possibility of intervention because of the levels we are at."
On August 22nd, Japanese finance minister Yoshikiko Noda stated that the country may take steps to intervene to prevent speculative trading of yen, adding that if such measures were taken it would do so with "strong resolve".
Posted by Clive Arneil
