Yen at Lowest Level Since 2008 Against the Dollar

Stimulus plan hitting Japan's currency

The Japanese yen has dropped to its lowest level since 2008 against the US dollar after the central bank began the latest round of its stimulus programme.

The yen fell as low as 98.85 against the dollar, before rebounding slightly.

Investors said the central bank's plan to buy assets worth trillions of yen, which has government backing, would continue to weaken the currency.