Dollar hits 4-month low in 140 yen on Fed rate cut projections

Economy

The U.S. dollar hit a four-month low in the upper 140 yen level Thursday in Tokyo, after the Federal Reserve signaled three interest rate cuts for 2024 following a policy meeting.

Tokyo stocks ended lower as the yen’s appreciation weighed on exporter issues. The 225-issue Nikkei Stock Average ended down 240.10 points, or 0.73 percent, from Wednesday at 32,686.25, while the broader Topix index finished 33.57 points, or 1.43 percent, lower at 2,321.35.

On the top-tier Prime Market, decliners were led by transportation equipment, bank and insurance issues.

Kyodo News

Kyodo News