Dollar hits 7-month low in upper 128 yen on slowing U.S. inflation

The U.S. dollar remained weak Friday in Tokyo after hitting a seven-month low of 128.85 yen in New York overnight on dollar selling spurred by data showing slowing inflation in the United States.

At 9 a.m., the dollar fetched 129.20-23 yen compared with 129.25-35 yen in New York and 131.60-61 yen in Tokyo at 5 p.m. Thursday.

The euro was quoted at $1.0858-0861 and 140.29-36 yen against $1.0846-0856 and 140.27-37 yen in New York, and $1.0762-0763 and 141.63-67 yen in Tokyo late Thursday afternoon.

The Nikkei index opened lower, as the yen’s strength weighed on exporters and other issues. In the...