Yen falls to ¥139 against the dollar, marking fresh 24-year low
The yen continued to fall against the U.S dollar Thursday in Tokyo, hitting a fresh 24-year low at the ¥139 level, as as a stronger-than-expected U.S. consumer price index raised prospects of aggressive rate hikes by the Federal Reserve.
The yen fell to its lowest level against the dollar since September 1998 after overnight data showed U.S. inflation surged to 9.1% in June from a year earlier, rising at the fastest pace in more than 40 years and exceeding the market consensus of 8.8%.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.