Yen sinks to 140 against the dollar

On the foreign exchange market on Thursday, the Japanese yen fell to 140 against the US dollar. That is a low not seen in more than six months.

The drop comes as investors are buying back the dollar in response to strong economic data coming out of the US.

Investors have watched policymakers at the Federal Reserve raise interest rates ten consecutive times. Fed Chair Jerome Powell has hinted at a pause, but he said it would depend on "incoming data." That has led investors to bet that inflation will still take some time to cool.