Dollar falls against yen after Fed hints at rate hike halt

On the Tokyo foreign exchange market on Monday, the dollar fell against the yen after the US Federal Reserve hinted that it would halt interest rate hikes.

As of 5 p.m., local time, the US currency was traded at 135.02 to 135.04 yen.

It declined by more than 2.5 yen from the levels before the five-day holidays in Japan.

The euro also slid by nearly two yen to 149.19 to 149.23 yen.

Market sources say investors sold the dollar because of a possible halt to US rate increases.

But they also say currencies were traded within a tight range because some investors bought back the dollar after the US job data for April beat market expectations, which suggest the country's economy remains solid.