Tokyo, 7 September, /AJMEDIA/
The yen briefly weakened to the mid-143 level against the U.S. dollar on Wednesday in Tokyo, hitting a fresh 24-year low of around 143.57 in the early morning amid continued speculation the U.S.-Japan interest rate gap will widen.
The Japanese currency breached the 143 line in New York on Tuesday as stronger-than-expected U.S. economic data increased the likelihood that the Federal Reserve will carry on with aggressive interest rate hikes.
At 9 a.m., the dollar fetched 143.15-18 yen compared with 142.74-84 yen in New York and 141.53-55 yen in Tokyo at 5 p.m. Tuesday.
The euro was quoted at $0.9897-9898 and 141.68-72 yen against $0.9902-9912 and 141.33-43 yen in New York and $0.9975-9976 and 141.18-22 yen in Tokyo late Tuesday afternoon.
Tokyo stocks fell in the morning as investors grew concerned over a slowdown in the world’s largest economy and the global economy as a result of the U.S. Federal Reserve’s monetary tightening.
The 225-issue Nikkei Stock Average fell 263.68 points, or 0.95 percent, from Tuesday to 27,362.83. The broader Topix index was down 14.79 points, or 0.77 percent, at 1,911.79.
On the top-tier Prime Market, decliners were led by mining, marine transportation, and electric appliance issues.
