Yen in lower 146 zone vs. dollar as slower U.S. rate hikes expected
The yen remained firm in the lower 146 range against the U.S. dollar Thursday morning in Tokyo on expectations that the Federal Reserve will slow the pace of its interest rate hikes. Tokyo stocks fell slightly, weighed down by disappointing earnings results from U.S. tech giants including Microsoft Corp. The 225-issue Nikkei Stock Average fell 52.44 points, or 0.19 percent, from Wednesday to 27,379.40. The broader Topix index was down 9.90 points, or 0.52 percent, at 1,908.31. On the top-tier Prime Market, decliners were led by bank, textile and apparel, and food issues.