Yen tumbles to 32-year low against dollar

Reuters file photo
The U.S. Federal Reserve building is pictured in Washington

The dollar rose to 147.70 yen in Tokyo trading Friday for the first time since August 1990, 32 years ago.

As the U.S. consumer price index rose by 8.2% in September, exceeding market expectations, the belief that the U.S. Federal Reserve will continue to raise interest rates drove a sharp move to buy up dollars and sell the yen, an advantageous play for investors.