Yen falls past symbolic 142 per dollar

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LONDON: The Japanese yen fell to a symbolic level of 142 per dollar on Tuesday, a new 24-year low, as the gap between Japan’s monetary policy and that elsewhere widens and weighs on the currency.

The dollar climbed 1.05 percent to 142.1 yen, the first time at this level since August 1998.

Japanese Finance Minister Shunichi Suzuki reiterated on Tuesday that strong yen moves were “undesirable” and that he was watching rising FX market volatility with “great urgency” as the currency hit a new 24-year low.

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