URGENT: Yen falls to fresh 20-yr low vs. dollar in 135 zone

Economy

The yen tumbled to the 135 zone against the U.S. dollar on Monday, hitting a fresh 20-year low in anticipation of a further widening of the interest rate gap between Japan and the United States. The yen sank to its lowest level since February 2002 after U.S. consumer price data for May, released Friday, raised speculation that the Federal Reserve may conduct aggressive rate hikes, fueling the divergence in monetary policy between the two countries. At 10 a.m., the dollar fetched 134.96-97 yen compared with 134.35-45 yen in New York and 133.59-62 yen in Tokyo at 5 p.m. Friday. The euro was quot...

Kyodo News

Kyodo News