URGENT: Yen weakens to 141 zone against U.S. dollar in new 24-year low

Economy

The yen weakened to the 141 zone against the U.S. dollar on Tuesday afternoon to hit a new 24-year low as the Japanese currency remained under pressure on expectations of higher interest rates in the United States. The yen has been rapidly depreciating on the view that the U.S. Federal Reserve will continue its aggressive interest rate hikes to cool the economy, thus widening rate differentials between Japan and the United States.

Kyodo News

Kyodo News