JAPAN NEWS


 

The dollar briefly slipped below ¥140 to hit its lowest levels since July last year in Asian trading Monday.

While the Tokyo market was closed for a national holiday, selling against the yen picked up its pace in other Asian markets amid emerging speculation that the Federal Reserve may decide on a major interest rate cut in its two-day Federal Open Market Committee meeting through Wednesday, traders said.

Market attention was also focused on the Bank of Japan’s policy-setting meeting that will run for two days through Friday. “With an eye also on the BOJ’s possible policy change, the yen drew buybacks,” a Japanese bank official said.