Yen hits 24-year low, 140 level beckons as hike bets buoy dollar - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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The dollar rose broadly on Thursday, particularly against the yen, as investors braced for higher US interest rates while expecting anchored Japanese rates to go nowhere anytime soon.

The greenback hit a 24-year high of 139.59 against the yen in early Asia trade, a gain of about 0.5% on the previous day’s close.

“So long as expectations for the peak in the Fed funds rate keep ratcheting higher while the Bank of Japan remains on hold, dollar/yen will be a buy on dips. Anywhere in the low 140s now looks plausible.” Euro zone inflation rose to a record high at 9.1% in August, data released on Wednesday showed, solidifying the case for further big European Central Bank rate hikes to tame inflation.

 

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