URGENT: U.S. dollar tops 124 yen for 1st time since Aug. 2015

Economy

The U.S. dollar on Monday continued its climb against the Japanese yen, topping the 124 yen line for the first time since August 2015. The dollar rose from the lower 122 yen range quoted in Tokyo in the morning as investors sought the unit on expectations of a widening interest rate gap between the United States and Japan. The rise was propelled by the Bank of Japan's announcement of an emergency bond-buying operation to stem a further rise in long-term interest rates.

Kyodo News

Kyodo News