Yen falls to 24-year low vs. dollar on rate gap, stocks slide

Economy

The yen hit a 24-year low against the U.S. dollar on Wednesday, briefly falling to around 135.60 on expectations of a further widening of the interest rate gap between Japan and the United States. On the stock market, the benchmark Nikkei index was down for a fourth straight day as investors reacted to a possible U.S. economic slowdown amid prospects that the Federal Reserve will be more aggressive in its rate hikes to fight high inflation. The 225-issue Nikkei Stock Average ended down 303.70 points, or 1.14 percent, from Tuesday at 26,326.16. The broader Topix index finished 22.52 points, or ...

Kyodo News

Kyodo News