Market News
Yen tumbles on Japan spending fears, dollar broadly higher
Summary
- Yen tumbles on Japan's fiscal spending concerns
- Fed has more room to cut rates amid inflation data
- Traders watch for possible yen intervention by Japan
NEW YORK, Jan 13 (Reuters) - The Japanese yen tumbled to its weakest level against the U.S. dollar since July 2024 on Tuesday on concerns about looser fiscal and monetary policy in the country.
The dollar was broadly higher following a brief dip on data showing that consumer prices were largely as economists expected last month.
