USD hits seven-month high of mid-JPY 141 level

TOKYO, June 15 (KUNA) -- The US dollar hit a seven-month high against the Japanese yen into the mid-JPY 141 range on Thursday in Tokyo on speculation of widening interest rate differentials between the US and Japan, said a media source.

According to Japan's nationwide newspaper Nikkei Business Daily, the dollar strengthened as the US Federal Reserve on Wednesday hinted rate hikes later in the year after it left the rates unchanged.
On the other hand, the Bank of Japan is expected to maintain its ultralow interest rate policy in its two-day board meeting through Friday, which prompted investors to buy the dollar and sell the yen.
The dollar rose to JPY 141.30-32 at one point in the afternoon, its highest level since November.
At 5 p.m. (0800 GMT), the greenback fetched JPY 141.26-28, compared with JPY 140.05-15 in New York and JPY 139.98-140.00 in Tokyo at 5 p.m. Wednesday.(end) mk.hs.