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Yen sinks beyond 137 against dollar in fresh 24-year low

Strong U.S. job market adds to downward pressure on Japanese currency

A strong U.S. jobs report has fueled the yen sell-off.

TOKYO -- The yen weakened to the lower 137 range against the dollar in overseas trading Monday night, as robust U.S. employment data fueled speculation about stepped-up monetary tightening by the Federal Reserve. 

The yen softened to 137.28 against the greenback Monday morning, beyond the previous low of 137 on June 29, before falling as far as 137.75 that night in offshore trading, a level not seen since 1998.

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