Yen surges against Dollar as Fed rate cut expectations rise

TOKYO, 5th August, 2024 (WAM) -- Japan's yen hit its highest levels against the dollar since January on Monday, as markets extended moves triggered last week after weak US labour data stoked recession worries and expectations of deeper rate cuts by the Federal Reserve, Reuters reported.

The yen, traded at 143 , up 2.3% versus the dollar and at levels last seen on January 2. It rose as far as 142.20.

The yen