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Currencies

Yen hits 143 to dollar in quickening sell-off

BOJ holds out on easing as soaring energy prices accelerate inflation

 A currency trader in Tokyo: Soaring energy uncertainty in Europe looms over the inflation outlook. 

TOKYO -- The yen tumbled to 143 against the dollar on Tuesday, its weakest since August 1998, as the Bank of Japan continues to pursue aggressive monetary easing even as other central banks in advanced economies raise rates to fight inflation.

The Japanese currency slipped to the 140 yen threshold for the first time in 24 years on Thursday. It weakened even further as Russia extended its suspension of gas exports to Europe via the Nord Stream pipeline over the weekend, which sent prices soaring. Expectations of continued inflation have spurred yields higher in Europe and the U.S. 

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