The yen's fall became unstoppable as the ninja currency plunged to lower levels against the US dollar in the European session.
Touching the 150 price level for the first time since August 1990, investors are still waiting for direct intervention from the Japanese government and central bank.
However, there are still no signs that it will happen with the Japanese authorities continuing to play tug of war.
Investors were disappointed that only $667 million worth of emergency bond purchases announced by the Bank of Japan (BOJ) to stem a rise in government bond (JGB) yields that crossed the 0.25% limit in the Asian session, and it failed to stem the yen's fall.
Meanwhile, higher US 10-year treasury yields supported the US dollar to trade firmer.
This follows the reaffirmation of commitment by some Federal Reserve (Fed) officials to extend their aggressive tightening.
Minneapolis Fed President Neel Kashkari signaled that interest rates, currently at 3.25%, may rise to more than 4.5% or 4.75% if inflation remains high.
Meanwhile, the euro and pound pared losses recorded earlier by trading flat against the US dollar.
Looking at Asian currency movements, the Aussie and New Zealand dollars rose slightly as investors turned their attention to the release of Chinese economic data in the Asian session tomorrow.
