Yen firm in upper 148 zone vs. dollar on caution over intervention

The yen was firm in the upper 148 zone against the U.S. dollar on Tuesday in Tokyo as investors remained cautious over a possible yen-buying intervention by Japanese monetary authorities aimed at arresting the yen's steep fall.

Tokyo stocks ended higher on hopes that a slowdown in the global economy, resulting from higher U.S. interest rates, may be curbed if the Federal Reserve starts decreasing the pace of hikes from December.

The 225-issue Nikkei Stock Average ended up 275.38 points, or 1.02 percent, from Monday at 27,250.28. The broader Topix index finished 19.95 points, or 1.06 percent, higher at 1,907.14.

On the top-tier Prime Market, gainers were led by oil and coal product, marine transportation, and rubber product issues.

© Kyodo News