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

Economy

The Japanese yen weakened to the 141 zone against the dollar for the first time in 24 years Tuesday afternoon in Tokyo, as investors bought the U.S. currency on persistent 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. Tokyo stocks ended almost flat, supported by buying of some exporters on a weaker yen, but trading was limited due to fewer market participants foll...

Kyodo News

Kyodo News