- Sean 'Diddy' Combs sex trafficking trial set for May 2025
- Bolivia stun Colombia in World Cup qualifiers
- Internet Archive reels from 'catastrophic' cyberattack, data breach
- Greece earn late win against England in Nations League, Italy-Belgium stalemate
- Trump biopic 'The Apprentice' hits US theaters weeks before election
- Pavlidis dedicates 'special' Greece win over England to tragic Baldock
- Wall Street stocks retreat from records on US inflation data
- 'Like a quake': Beirut shaken after deadliest strikes on centre
- Fallen giants Ghana in AFCON trouble after Sudan draw
- Asian leaders meet in Laos with US, Russia on world turmoil
- England gamble backfires as Pavlidis fires emotional Greece to victory
- Obama stumps for Harris, Trump talks US protectionism
- New-look France ease past Israel in Nations League
- Belgium fight back to draw with 10-man Italy in Nations League
- 'Get a life': Hurricane whips up US election storm
- Japan stay perfect in World Cup qualifying
- Relief as Lebanon evacuees dock in Turkey
- Lebanon says 22 dead in Israeli strikes on central Beirut
- NBA boss Silver sees games back in China 'at some point'
- Israel strikes central Beirut, killing 22
- Table tennis and Netflix push Ukraine teen into French Open contention
- Civilians flee Gaza's Jabalia in tightening Israeli siege
- Israel strikes central Beirut, killing 18
- At least 10 dead in Florida from tornadoes caused by Hurricane Milton
- Warhol's rare 'Queen' collection opens at Dutch museum
- Three-time NBA champion Green retires
- MLB Twins up for sale after 40 years
- S.Sudan floods affect 893,000, over 241,000 displaced: UN
- Solar storm could impact US hurricane recovery efforts: agency
- Windies sweat on injury to 'crucial' Taylor at World Cup
- Lebanon says 11 dead, 48 injured in Israeli strikes on Beirut
- Panama lashes out at EU over tax haven 'outrage'
- Erdogan says Gaza 'shame of humanity', calls for permanent ceasfire
- TD Bank to pay more than $3 bn to US in money-laundering case
- SAfrica prosecutors drop criminal complaint against president
- 'Good opportunity': Nagelsmann upbeat despite Germany's long injury list
- Hurricane whips up bitter US election battle
- Cameroon bans media talk of president's health amid rumours
- NFL MVP Jackson and rookie phenom Daniels set for showdown
- Chad's capital under threat as floodwaters rise
- Lebanon state media says Israeli strikes hit central Beirut
- No answers on strike on reporters in Lebanon one year on: watchdog
- Ramharack picks four wickets as Windies beat Bangladesh in Women's T20 World Cup
- France's City of Light switches to climate-resilient power cables
- Djokovic hails Nadal 'legacy' as Alcaraz in 'shock' over retirement
- Obama hits campaign trail for Harris
- Delta eyes Election Day travel pullback as profits climb
- Djokovic tells Nadal: 'Your legacy will live forever'
- Ethel Kennedy, wife of RFK, dead at 96
- Zelensky denies ceasefire with Russia under discussion on trip
Yen hits 34-year low, equity markets mixed before key US data
The yen plunged Wednesday to a 34-year dollar low on fervent speculation that the Bank of Japan could step into markets to support the unit, having hiked interest rates last week for the first time since the global financial crisis.
The yen dropped to 151.97 to the dollar in Asian trading hours, touching the lowest point since 1990 before strengthening somewhat in the European session.
A top Bank of Japan official indicated that it would press ahead with a loose monetary policy, even after it pulled the plug on its ultra-aggressive monetary stimulus programme to deliver its first hike in borrowing costs since 2007.
The weaker yen helped spur a rally in Tokyo's benchmark Nikkei stocks index as exporters benefited, making it Asia's best performer.
Other global stock markets diverged before this week's US data, which is expected to shed light on the outlook for Federal Reserve interest rates.
World oil prices meanwhile trod lower on signs of weakening demand in major consumer the United States.
- Traders 'will need more' -
"After hitting its highest since 1990, the yen slackened a bit overnight on the comments but has not budged much and the market will need more," said analyst Neil Wilson at trading firm Finalto.
"Usually in these situations the market will test how far Tokyo is prepared to let it go."
Earlier in the day, BoJ board member Naoki Tamura said officials would not embark on a speedy programme of monetary tightening as they try to nurture an economic recovery while keeping a lid on inflation.
"The handling of monetary policy is extremely important from here on for slow but steady progress in normalisation to fold back the extraordinarily large-scale monetary easing," he said, according to Bloomberg News.
Finance Minister Shunichi Suzuki said the government was watching the situation closely and vowed to act if necessary.
"We're monitoring market movements with a high sense of urgency. We will take resolute action against excessive moves, without ruling out any options," he told reporters.
Global markets diverged Wednesday with investors on tenterhooks before key US data releases this week, including the Federal Reserve's preferred gauge of inflation and the looming corporate earnings season.
Hong Kong, Shanghai, Seoul, Jakarta and Wellington were down, while Sydney, Singapore, Taipei, Mumbai, Bangkok and Manila clung onto gains.
In Europe, London registered a modest loss while Frankfurt and Paris held onto positive territory.
The mixed performance followed another soft day on Wall Street with observers warning the latest equities rally may have run out of steam.
- Key figures around 1130 GMT -
Dollar/yen: DOWN at 151.21 yen from 151.53 yen on Monday
Euro/dollar: DOWN at $1.0827 from $1.0833
Pound/dollar: UNCHANGED at $1.2628
Euro/pound: DOWN at 85.74 pence from 85.78 pence
Tokyo - Nikkei 225: UP 0.9 percent at 40,762.73 (close)
Hong Kong - Hang Seng Index: DOWN 1.4 percent at 16,392.84 (close)
Shanghai - Composite: DOWN 1.3 percent at 3,993.14 (close)
New York - Dow: UP 0.1 percent at 39,282.33 (close)
London - FTSE 100: DOWN 0.3 percent at 7,907.71 points
Paris - CAC 40: UP 0.1 at 8,196.12
Frankfurt - DAX: UP 0.3 percent at 18,446.39
EURO STOXX 50: UP 0.3 percent at 5,079.22
Brent North Sea Crude: DOWN 0.6 percent at $85.70 per barrel
West Texas Intermediate: DOWN 0.7 percent at $81.06 per barrel
burs-rfj/bcp/lth
X.Karnes--AMWN