Dollar hits 3-month low in lower 136 yen on Fed chief's dovish remark

The U.S. dollar hit a three-month low in the lower 136 yen zone Thursday in Tokyo, falling by about 2 yen after U.S. Federal Reserve Chairman Jerome Powell signaled a slowing in the pace of interest rate hikes.

Tokyo stocks closed higher as the remarks from the U.S. central bank chief helped ease concerns about an economic slowdown stemming from the aggressive hikes.

The 225-issue Nikkei Stock Average ended up 257.09 points, or 0.92 percent, from Wednesday at 28,226.08. The broader Topix index finished 0.89 point, or 0.04 percent, higher at 1,986.46.

On the top-tier Prime Market, gainers were led by electric appliance, chemical, and precision instrument issues.

© Kyodo News