Yen weakens to mid-143 vs. dollar on interest rate gap speculation

Economy

The yen briefly weakened to the mid-143 level against the U.S. dollar on Wednesday in Tokyo, hitting a fresh 24-year low of around 143.57 in the early morning amid continued speculation the U.S.-Japan interest rate gap will widen. The Japanese currency breached the 143 line in New York on Tuesday as stronger-than-expected U.S. economic data increased the likelihood that the Federal Reserve will carry on with aggressive interest rate hikes. At 9 a.m., the dollar fetched 143.15-18 yen compared with 142.74-84 yen in New York and 141.53-55 yen in Tokyo at 5 p.m. Tuesday. The euro was quoted at $0....

Kyodo News

Kyodo News