Dollar hits 3-month low in 135 yen zone on Fed chief's dovish remark

The U.S. dollar briefly dropped to a three-month low in the 135 yen zone Thursday in Tokyo, falling by over 2 yen after U.S. Federal Reserve Chairman Jerome Powell signaled a slowing in the pace of interest rate hikes.After trading in the lower 138 yen level late Wednesday in New York, the U.S. currency plunged to its lowest level against the yen since August, driven by Powell's remarks earlier in the day that the Fed may start slowing the pace of rate increases as soon as December."It makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be …READ FULL ARTICLE