Dollar Briefly Falls below 140 Yen in Asian Trading
17:41 JST, September 16, 2024
Sydney (Jiji Press)—The dollar briefly slipped below ¥140 to hit its lowest levels since July last year in Asian trading Monday.
While the Tokyo market was closed for a national holiday, selling against the yen picked up its pace in other Asian markets amid emerging speculation that the Federal Reserve may decide on a major interest rate cut in its two-day Federal Open Market Committee meeting through Wednesday, traders said.
Market attention was also focused on the Bank of Japan’s policy-setting meeting that will run for two days through Friday. “With an eye also on the BOJ’s possible policy change, the yen drew buybacks,” a Japanese bank official said.
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