Yen remains weak around 140 line vs. dollar in early Tokyo trading

The Japanese yen remained weak around the 140 line against the dollar early Friday in Tokyo after it hit a new 24-year-low in New York overnight on speculation of a wider interest rate gap and further lost ground in Oceanian trading.

At 9 a.m., the dollar fetched 140.08-09 yen compared with 140.15-25 yen in New York and 139.28-29 yen in Tokyo at 5 p.m. Thursday.

The euro was quoted at $0.9951-9952 and 139.39-42 yen against $0.9941-9951 and 139.37-47 yen in New York and $1.0029-0031 and 139.69-73 yen in Tokyo late Thursday afternoon.

Tokyo stocks opened lower on fears of an economic slowdown in the U.S. economy due to aggressive monetary tightening.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 35.09 points, or 0.13 percent, from Thursday to 27,626.38. The broader Topix index was down 7.15 points, or 0.37 percent, at 1,928.34.

On the top-tier Prime Market, decliners were led by mining, iron and steel, and oil and coal product issues.

© Kyodo News