An illustration shows banknotes of the euro, Hong Kong dollar, US dollar, Japanese yen, British pound and Chinese 100 yuan.
17:41 JST, September 16, 2024
Sydney (Jiji Press)—The dollar briefly fell below ¥140 on Monday, hitting its lowest level since July last year in Asian trading.
While Tokyo stock exchanges were closed for a national holiday, selling against the yen picked up in other Asian markets on mounting speculation that the Federal Reserve could decide on a big rate cut during the 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 runs for two days until Friday. “In view of the BOJ’s possible policy change, the yen attracted buybacks,” a Japanese banking official said.
