NEW YORK (Kyodo) — The U.S. dollar briefly sank to a six-month low in the lower 145 yen range in New York on Thursday after the country’s reciprocal tariffs prompted investors to buy the Japanese currency, seen as a relatively safe asset, out of concern over potential disruptions to the global economy.
Following President Donald Trump’s announcement of the import duties, the dollar sank against the yen on Thursday morning in New York to 145.19, its lowest level since early October.
The dollar later bounced back and was quoted at 146.05-15 at 5 p.m., compared with 147.24-27 yen in Tokyo late Thursday.
Growing anxiety among investors over the U.S. and global economic outlooks also sent the country’s major stock index down 3.98 percent, the fastest decline since June 2020.
The 30-issue Dow Jones Industrial Average plunged 1,679.39 points to close at 40,545.93. Analysts said market participants have been worried that the U.S. tariff hikes and possible retaliatory measures by exporting countries will disrupt global supply chains and eventually hurt American corporate earnings.