LONDON (Reuters) – The Japanese yen tumbled to the symbolic level of 142 per dollar on Tuesday, a fresh 24-year low, as the gap between Japanese monetary policy and that elsewhere becomes ever more stark, weighing on the currency.
The dollar climbed 1.05% to 142.1 yen, the first time it has been at this level since August 1998.
Japanese Finance Minister Shunichi Suzuki on Tuesday reiterated that sharp yen moves were “undesirable” and that he was watching rising volatility in the exchange market with a “great sense of urgency” as the currency hit a fresh 24-year low.
(Reporting by Alun John, editing by Samuel Indyk)