Yen tumbles to 20-year low on diverging Japan, U.S. interest rates

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Kyodo News

The yen traded at its lowest level in over 20 years against the U.S. dollar in Tokyo on Tuesday morning, amid expectations that the Federal Reserve will continue its aggressive policy tightening, widening the interest rate gap between Japan and the United States. At 9 a.m., the dollar fetched 132.18-21 yen compared with 131.85-95 yen in New York and 130.76-78 yen in Tokyo at 5 p.m. Monday. The euro was quoted at $1.0689-0693 and 141.29-37 yen against $1.0691-0701 and 141.00-10 yen in New York and $1.0742-0743 and 140.47-51 yen in Tokyo late Monday afternoon. The yen declined in New York and co…

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