TOKYO, Sept. 17 (Xinhua) -- The Japanese yen hit its strongest level in more than a year on Monday, rising briefly to the 139 yen zone against the U.S. dollar in Asian trading, due to growing speculations of a possible U.S. rate cut by 0.50 percentage points later this month.
The U.S. dollar was down 0.47 percent at 140.15 yen, falling further from the 140.285 it struck on Friday to its lowest since July 2023. Japanese financial markets were closed Monday due to a national holiday.
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The U.S. currency was also pressured by recent remarks by Bank of Japan policy board members that policymakers will raise interest rates based on economic data. The Japanese central bank will hold its two-day policy meeting from Thursday.■