Yen Strengthens Beyond 140 Per Dollar for First Time Since 2023
- Japan’s currency has rallied from 161.95 at start of July
- Gains mark remarkable recovery from weakest in decades
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The yen advanced past the key psychological level of 140 against the dollar as the Japanese currency extended its rally from the weakest point in nearly 38 years in July.
It appreciated as much as 0.6% versus the dollar to 139.96 on Monday, its strongest level since July 2023. The yen has been the best-performing Group-of-10 currency this quarter, with a 15% gain as investors position for a further narrowing of the interest-rate gap between the US and Japan.