Yen sinks to 154 range vs dollar for 1st time in 34 years

The yen fell below the 154 line against the U.S. dollar on Monday in New York for the first time in nearly 34 years on receding expectations that the U.S. Federal Reserve will cut interest rates soon amid signs of persistent inflation.The value of the Japanese currency depreciated against the dollar after Tokyo trading and hovered in the lower 154 range throughout the day in New York, levels last seen in June 1990, after hitting 154.45.Investors have been selling the yen for the dollar amid the wide rate differential between Japan and the United States, as their central banks have been purs…READ FULL ARTICLE