Yen drops to 155 range, new 34-year low against U.S. dollar

The yen weakened to the 155 range against the U.S. dollar in London and New York on Wednesday, hitting a fresh 34-year low, amid expectations the Federal Reserve will keep interest rates elevated for longer than projected.The Japanese currency stayed in the lower 155 range against the dollar through nearly the entire day in New York, after briefly falling below the 155 line in London for the first time since June 1990.It hit 155.37 at its weakest point of the day in New York and was quoted at 5 p.m. at 155.28-38 per dollar, compared with 154.89-91 late Wednesday in Tokyo.Investors have been…READ FULL ARTICLE