Yen slumps to 150 to the dollar

TOKYO, Oct 20 (NHK) - The Japanese yen weakened to the 150 level against the US dollar at one point during Tokyo trading on Thursday. It is the first time the currency has dropped to this level in 32 years.

The yen has now depreciated about 30 percent against the dollar this year. Investors are speculating that the US Federal Reserve will continue to raise key interest rates to tackle the country's decades-high level of inflation.

That briefly pushed the yield on long-term US bonds to 4.1 percent on Wednesday. ...continue reading

Source: ANNnewsCH

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