The yen hits a 24-year low against the US dollar in the 142 area in New York

The Japanese yen hit a new 24-year low against the US dollar at the low of 142 in New York on Tuesday as the momentum of selling yen and buying dollars continued in European markets. The yen was trading at 142.08-18 to the dollar at 8:30 a.m. in New York, about 2 yen lower than Friday evening, marking a new low since August 1998 after the long weekend of the holiday. Work. The yen quickly depreciated on the expectation that the US Federal Reserve will continue its aggressive interest rate hikes to fight inflation, creating a stark contrast to Japan’s ultra-loose monetary policy. Unpopular…