Yen slips to new 20-year low in 129 level vs. U.S. dollar

The Japanese yen slipped to a new 20-year low in the 129 zone against the U.S. dollar Wednesday morning in Tokyo amid the prospect of a widening interest rate gap between the two countries.

At 9 a.m., the dollar fetched 129.32-35 yen compared with 128.86-96 yen in New York and 128.06-08 yen in Tokyo at 5 p.m. Tuesday.

The euro was quoted at $1.0793-0797 and 139.58-66 yen against $1.0782-0792 and 139.02-12 yen in New York and $1.0801-0803 and 138.32-36 yen in Tokyo late Tuesday afternoon.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average rose 234.73 points, or 0.87 percent, from Tuesday to 27,219.82. The broader Topix index was up 19.75 points, or 1.04 percent, to 1,915.45.

On the top-tier Prime Market, gainers were led by transportation equipment, precision instrument and air transportation issues.

© Kyodo News