The yen weakened to a fresh 24-year low in the 140 zone per U.S. dollar in New York on Thursday, weighed down by growing speculation that the interest rate gap between the United States and Japan will widen.
After briefly topping the ¥140 line, the dollar was traded at ¥139.75-85 in New York at 10:30 a.m., against ¥139.28-29 at 5 p.m. in Tokyo.
The yen declined to its lowest since 1998 as a surge in Treasury yields heaped more pressure on the currency, prompting warnings from Japanese government officials.