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Currencies

Yen becomes lone loser on flight to higher-yielding dollar, euro

Sell-off continues on widening interest rate gaps, high oil prices

The value of the yen approached 133 to the dollar during trading on June 7. (Photo by Hirofumi Yamamoto)

TOKYO -- The Japanese yen's lone descent against major currencies accelerated Tuesday as money fleeing Japan flowed into higher-yielding dollar and euro assets amid widening interest rate gaps.

The yen briefly touched 133 against the greenback during the day, the lowest since April 2002. The currency also fell to the upper 141 range against the euro, a roughly seven-year low.

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