URGENT: Yen weakens to 144 level against U.S. dollar, new 24-year low

Economy

The yen weakened to the 144 zone against the U.S. dollar on Wednesday, hitting a new 24-year low as investors continued to sell the Japanese currency in anticipation of higher interest rates in the United States. The yen was sold amid speculation that the U.S. Federal Reserve will continue aggressive interest rate hikes, resulting in wider rate gaps between Japan and the United States.

Kyodo News

Kyodo News