URGENT: Yen falls to 149 zone vs. U.S. dollar, hits fresh 32-year low

The yen fell to the 149 zone against the U.S. dollar on Monday in New York, hitting a fresh 32-year low, as rising inflation expectations strengthened the view that the Federal Reserve will continue aggressive interest rate hikes in the foreseeable future.

Investors bought the dollar against the yen as the Bank of Japan, in contrast to the Fed, is determined to maintain its ultraloose monetary policy, resulting in a wider interest rate differential between Japan and the United States.

© Kyodo News