Yen hits 4-month high against dollar on U.S. economy concerns

TOKYO -- The yen briefly strengthened to the mid-148 range against the dollar on Tuesday in New York trading, its highest level against the greenback since October.

U.S. Treasury yields are falling due to concerns about the outlook for the American economy, fueling yen-buying and dollar-selling on expectations the gap between interest rates in Japan and the U.S. will narrow.