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Economy

US rate-hike prospects banish fears of a strong yen, for now

The yen is trading at more than 105 to the dollar amid strong signs for the U.S. economy.

TOKYO -- Market players worried about a stronger yen can rest easy for the time being as U.S. economic indicators grow brighter, spurring hopes of an interest-rate hike in that country by the end of the year.

The yen weakened to around 105.46 to the dollar, the softest since July 29, in overseas markets Friday after the release of U.S. gross domestic product statistics. The preliminary figures showed the American economy growing at an annualized 2.9% in real terms for the July-September quarter -- faster than markets predicted.

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