The U.S. dollar briefly advanced to the 145-yen line in New York on Friday, a level unseen since late June, as a fresh rise in key U.S. long-term interest rates prompted dollar-buying and yen-selling.
After hitting 145.00 yen, the dollar was quoted at 144.90-145.00 yen at 5 p.m. Friday, compared with 144.72-82 yen a day earlier. The dollar traded at 143.80-81 yen late Thursday in Tokyo. Financial markets in Japan were closed Friday due to a holiday.
The wholesale U.S. price index for July, released in the morning, rose by a higher-than-expected 0.8 percent, fueling speculation that the country’s central bank will decide on another rate hike to fight stubborn inflation.
The Federal Reserve increased its interest rates to the highest level in 22 years in a policymaking meeting last month, while the Bank of Japan maintains ultralow rates as part of its monetary…
