Yen hits fresh 24-yr low vs. U.S. dollar in 142 zone in N.Y.

Economy

The Japanese yen hit a fresh 24-year low against the U.S. dollar in the lower 142 level in New York on Tuesday as yen-selling and dollar-buying momentum carried over from European markets. The yen was traded at 142.08-18 to the dollar at 8:30 a.m. in New York, about 2 yen weaker than late Friday, marking a fresh low since August 1998 following the longer Labor Day weekend. The yen has been rapidly depreciating on the view that the U.S. Federal Reserve will continue its aggressive interest rate hikes to fight inflation, creating a sharp contrast with Japan's ultraloose monetary policy. Unpopula...

Kyodo News

Kyodo News