Dollar Reaches 140 Yen for 1st Time in 24 Years

Jiji Press
On Thursday evening, a display in Tokyo reported that the yen had temporarily dropped to 140 yen.

New York, Sept. 1 (Jiji Press)—The dollar reached ¥140 for the first time in 24 years in New York trading Thursday morning.

The dollar slightly trimmed the gains to stand at ¥139.80-90 at 10:30 a.m., still up from ¥138.91-139.01 at 5 p.m. Wednesday.

Brisk U.S. jobless claim data released Thursday reinforced speculation that the Federal Reserve will continue tightening monetary policy for a longer period, market sources said.

The speculation prompted dollar purchases to sell yen, the sources also said.

Also behind the yen sales was a prevailing view that the Bank of Japan is unlikely to end its superloose monetary policy anytime soon, the sources added.