Yen Rises, Stocks Fall after Fed Chief Says Rate Cut Is on the Cards

The Japanese yen continued to rise today, after comments from US Federal Reserve Chairman Jerome Powell on Friday, which indicated an interest rate cut. Investors responded by strengthening the yen and selling stocks. The Japanese currency rose to the 143 yen level in morning trading. The strong yen led investors to sell Tokyo stocks, especially those of major exporters such as automakers. The benchmark Nikkei 225 index briefly fell more than 500 points. Source: Qatar News Agency