Yen weakens to upper 141 zone against U.S. dollar in new 24-year low

The Japanese yen weakened to the upper 141 zone against the dollar for the first time in 24 years Tuesday afternoon in Tokyo, as investors bought the U.S. currency on persistent expectations of higher interest rates in the world's largest economy.The yen has been rapidly depreciating on the view that the U.S. Federal Reserve will continue its aggressive interest rate hikes to cool the economy, thus widening rate differentials between Japan and the United States.The Japanese currency on Tuesday hit its lowest level of 141.73 against the dollar since August 1998, having plunged by 26 yen this…READ FULL ARTICLE