Yen tumbles to fresh 20-yr low against dollar on policy divergence

Economy

The Japanese yen tumbled to a fresh 20-year low against the U.S. dollar on Tuesday, falling below the 128 line, amid prospects for a divergence in monetary policy between the U.S. Federal Reserve and Bank of Japan. At 3 p.m., the dollar fetched 128.14-19 yen compared with 126.93-127.03 yen in New York and 126.63-65 yen in Tokyo at 5 p.m. Monday. The euro was quoted at $1.0772-0776 and 138.03-14 yen against $1.0776-0786 and 136.87-97 yen in New York and $1.0790-0792 and 136.64-68 yen in Tokyo late Monday afternoon. The 225-issue Nikkei Stock Average ended up 185.38 points, or 0.69 percent, from...

Kyodo News

Kyodo News