Yen falls to fresh 24-year low vs. dollar, lifts stocks

Economy

The yen fell to the 138 line versus the U.S. dollar Thursday morning as a stronger-than-expected U.S. consumer price index raised prospects of aggressive rate hikes by the Federal Reserve, while the weakening yen sent Japanese stocks higher. The 225-issue Nikkei Stock Average rose 185.43 points, or 0.70 percent, from Wednesday to 26,664.20. The broader Topix index was up 3.07 points, or 0.16 percent, at 1,891.92. On the top-tier Prime Market, gainers were led by farm and fishery, marine transportation, and electric appliance issues.

Kyodo News

Kyodo News