Yen slides to 153 against dollar for first time since July

Japanese currency sold off on falling likelihood of new U.S. rate cuts

20241023N Yen dollar bills

Market players see the interest rate gap between the U.S. and Japan as likely to widen, pushing down the yen. (Photo by Akira Kodaka)

GENKI IKUTA, Nikkei staff writer

TOKYO -- The Japanese currency hit the 153 yen range against the dollar on Wednesday, falling to that level for the first time since July 31, on expectations of a widening yield gap between the two countries.

The yen's depreciation past the 200-day moving average, which recently has been in the 151.3 range to the dollar, is seen as a turning point.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.