Yen tumbles to new 20-year low at 129 level vs. U.S. dollar

The Japanese yen tumbled to a new 20-year low in the 129 zone against the U.S. dollar on Wednesday in Tokyo, as the unit continued to fall on the prospects of a further widening in the interest rate gap between the two countries.

The yen bounced back to the upper 128 level in the afternoon after briefly dropping to around 129.40 in the morning.

On the stock market, the 225-issue Nikkei Stock Average ended up 232.76 points, or 0.86 percent, from Tuesday at 27,217.85. The broader Topix index finished 19.45 points, or 1.03 percent, higher at 1,915.15.

On the top-tier Prime Market, gainers were led by transportation equipment, pulp and paper, and farm and fishery issues.

© Kyodo News