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New York – The yen tumbled briefly to around the 132 line Monday in New York, its weakest level in 20 years and two months, as traders flocked to sell the Japanese currency for the U.S. dollar on speculation of further widening between the two countries’ interest rates.
At 5 p.m., the dollar traded at ¥131.85-95, compared with ¥130.76-78 at 5 p.m. Monday in Tokyo. The euro was quoted at $1.0691-0701 and ¥141.00-10 against $1.0742-0743 and ¥140.47-51 in Tokyo late Monday afternoon.
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