Yen hits 24-yr low in mid-140 vs. dollar on U.S. rate hike prospects

The yen dropped to the mid-140 zone against the U.S. dollar on Friday in Tokyo, as it continues to fall to levels not seen in nearly a quarter of a century amid growing expectations that the Federal Reserve will continue aggressive interest rate hikes.Tokyo stocks ended lower on the view that higher borrowing costs in the United States will slow down the world's largest economy and weigh on global growth. But they narrowed their losses in the afternoon as investors refrained from bold moves ahead of U.S. employment data to be released later in the day.The Japanese currency, which has plunge…READ FULL ARTICLE