Yen hits strongest level this year on speculation of big Fed rate cut

Japanese currency's surge comes just days after reaching previous high

20240913 Yen Dollar 140

The dollar-yen rate is shown on a screen at a trading desk in Tokyo on Sept. 13. (Photo by Yuji Murakami)

LISA KIM, Nikkei staff writer

TOKYO -- The yen briefly rose to its strongest point this year on Friday due to growing speculation of a possible 0.50 percentage point U.S. rate cut next week.

The Japanese currency hit 140.67 yen to the dollar in early afternoon trading before paring gains.

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