Yen falls to 20-year low on rising U.S. Treasury yields

Japanese currency hits weakest level against dollar since May 2002

The Japanese currency was trading at more than 126 yen to the dollar on April 13, its weakest level in two decades.

KENTARO IWAMOTO and MITSURU OBE, Nikkei staff writers

April 13, 2022 15:52 JST

TOKYO -- The Japanese yen fell to a 20-year low on Wednesday as the U.S. Treasury yield continued to rise, prompting investors to buy the dollar and sell the yen.

The yen was trading at more than 126 against the dollar at one time on Wednesday, crossing the 125.86 threshold marked in June 2015 and reaching the lowest level since May 2002.