Dollar falls to 142-yen range in N.Y. after Fed holds rates steady

Economy

The U.S. dollar plunged against the yen to the 142 range in New York on Wednesday after the country’s central bank continued to keep key interest rates unchanged and even hinted at cuts next year.

The dollar was traded at 145.34-44 yen at 8:40 a.m. in New York, but took a steep dive following the announcement by the Federal Reserve, which prompted dollar-selling and yen-buying amid the prospect that the gap in borrowing costs may narrow.

At 5 p.m. in New York, the dollar was quoted at 142.84-94 yen after briefly hitting 142.65 yen, compared with 145.81-82 yen at 5 p.m. Wednesday in Tokyo.

The ...

Kyodo News

Kyodo News