Economy

Dollar Briefly Falls below 140 Yen in Asian Trading

Reuters file photo
Euro, Hong Kong dollar, U.S. dollar, Japanese yen, British pound and Chinese 100-yuan banknotes are seen in a picture illustration.

Jiji Press

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.