Yen Extends 20-Year Low on Widening U.S. Yield Gap
- Japanese currency falls for 11th straight day against dollar
- Yen is the worst performing Group-of-10 currency this year
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The yen’s relentless drop continued Friday, as it weakened for an 11th straight day against the dollar on bets further divergence between U.S. and Japanese interest rates are inevitable.
The Japanese currency was down just over 0.5% to 126.60 per dollar at 3.30 p.m. in Tokyo -- extending a 20-year low. Benchmark Treasury yields surged in the U.S. overnight, widening the gap with their peers in Japan.