Dollar nears 18-month low versus yen

The dollar tumbled Thursday to its lowest level against the yen in nearly 18 months as Japanese officials signaled they wouldn’t intervene in an attempt to weaken their currency.

The greenback USDJPY, +0.42%  traded as low as ¥107.69, its lowest level since Oct. 29, 2014, which was a few days before the Bank of Japan shocked the market with a massive expansion of its monthly asset purchases.

Though the buck pared its drop slightly to trade at ¥108.25 late Thursday in New York, compared with ¥109.79 late Wednesday.

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