URGENT: Yen drops to 137, new 24-year low against dollar

Economy

The yen fell to the 137 line, a new 24-year low against the U.S. dollar, reflecting persistent market expectations for a divergence between the Japanese and U.S. monetary policies. The Japanese currency dropped to 137.00, a level not seen since September 1998, against the dollar. The Bank of Japan left its ultraeasy monetary policy unchanged earlier in the month, in stark contrast with the Federal Reserve's continued tightening policy.

Kyodo News

Kyodo News