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Currencies

Yen falls past 150 per dollar, hitting new 32-year low

Fed's sustained hawkish monetary stance spurs dollar-buying

The policy divergence between the dovish Bank of Japan and the hawkish U.S. Federal Reserve is a primary driver of the dollar's recent strength and the yen weakness. (Photo by Tomoki Mera) 

TOKYO -- The yen weakened past 150 against the dollar on Thursday, reaching a new 32-year low as the policy gap widens between the Bank of Japan and the U.S. Federal Reserve.

The Fed has repeatedly raised interest rates to tackle inflation, while the Bank of Japan maintains its ultraloose monetary policy to support the economy.

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