TOKYO -- The yen has strengthened sharply following dovish signals from the U.S. Federal Reserve, with one estimate placing the Japanese currency's fair value at about 140 to the dollar in light of the countries' narrowing rate gap.
Currencies
Yen's fair value seen around 140 to dollar amid narrowing rate gap
Fed signals on cuts spur speculation of further strength in Japanese currency
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The yen strengthened against the dollar on Dec. 14 in response to the results of the U.S. Federal Reserve policy meeting. (Photo by Yuki Nakao)
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