The yen fell to the 148 range against the U.S. dollar Friday morning, setting a fresh 32-year low amid persistent speculation of aggressive interest rate hikes by the U.S. Federal Reserve.
The yen's weaker tone also reflects the Bank of Japan's commitment to maintaining its ultraloose monetary policy, which is expected to widen the interest rate gap between the two countries.
The dollar's strength against other major currencies, including the euro and the British pound, is also adding pressure on the Japanese currency, dealers said.
