Dollar hits 38-year high vs yen; stocks mostly ease

NEW YORK, June 26 - The dollar hit a fresh 38-year high against the Japanese yen on Wednesday, with investor speculation high that Japanese authorities could intervene to strengthen the currency, while global stock indexes were mostly lower.

In April, a fall to 160.245 per dollar was enough to prompt Tokyo to spend roughly 9.8 trillion yen to support the yen. The Dow Jones Industrial Average , opens new tab fell 128.53 points, or 0.33%, to 38,981.88, the S&P 500 , opens new tab lost 10.58 points, or 0.19%, to 5,458.72 and the Nasdaq Composite , opens new tab gained 24.56 points, or 0.13%, to 17,740.55.

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