Yen weak in lower 150 range vs. dollar, near 32-year low

The yen remained weak near a 32-year low in the lower 150 range versus the U.S. dollar early Friday in Tokyo, as hawkish remarks from a Federal Reserve official fueled prospects of a wider U.S.-Japan interest rate gap.

At 9 a.m., the dollar fetched 150.16-17 yen compared with 150.10-20 yen in New York and 149.86-88 yen in Tokyo at 5 p.m. Thursday.

The euro was quoted at $0.9776-9780 and 146.83-85 yen against $0.9782-9792 and 146.88-98 yen in New York and $0.9786-9788 and 146.66-70 yen in Tokyo late Thursday afternoon.

Tokyo stocks opened lower amid concerns over a slowdown in the U.S. economy as a result of the Fed's monetary tightening policy.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 98.30 points, or 0.36 percent, from Thursday to 26,908.66. The broader Topix index was down 8.39 points, or 0.44 percent, at 1,887.02.

On the top-tier Prime Market, decliners were led by electric power and gas, precision instrument, and securities house issues.

© Kyodo News