Yen tumbles to 146-range against dollar, hitting 9-month low

Japanese currency reaches level that triggered September 2022 intervention

The yen has weakened to the point at which the Japanese government and central bank intervened to shore up the currency last year. (Photo by Tsuyoshi Tamehiro)

HIROFUMI TAKEUCHI, Nikkei staff writer

August 17, 2023 05:01 JST

NEW YORK -- The yen weakened to a nine-month low of 146 to the dollar in New York on Wednesday, as investors bought the greenback on expectations that the Federal Reserve will tighten monetary policy over the long term to fight persistent inflation.

The yen was trading at about 146.3 per dollar in New York around 4 p.m. local time.