Yen slips to fresh 20-year low in upper 126 zone against U.S. dollar

The Japanese yen slipped to a fresh 20-year low in the upper 126 level against the U.S. dollar in Tokyo on Friday, as it continued to face selling fueled by the prospect of a widening policy gap between the Bank of Japan and the U.S. Federal Reserve.The yen sank below the previous low of 126.31 quoted Wednesday, briefly falling to 126.70, its weakest level since May 2002, after U.S. Treasury yields surged overnight on growing expectations that the U.S. central bank will raise interest rates aggressively, dealers said.Currency movements were volatile due to subdued trading, with many market …READ FULL ARTICLE