Yen weak in 148 zone vs. U.S. dollar after 32-year low

Economy

The yen stayed weak in the upper 148 range against the U.S. dollar Monday in Tokyo after hitting a new 32-year low late last week, while the Japanese finance minister's fresh warning kept investors wary of another yen-buying intervention. Tokyo stocks ended lower on profit-taking following sharp gains on Friday and lackluster automakers amid fears over a possible U.S. recession resulting from the Federal Reserve's aggressive interest rate hikes. The 225-issue Nikkei Stock Average ended down 314.97 points, or 1.16 percent, from Friday at 26,775.79. The broader Topix index finished 18.63 points,...

Kyodo News

Kyodo News