London, Sept. 3 (Jiji Press)–The dollar slipped below 156 yen in London trading Thursday morning, hitting its lowest level since Aug. 3. Yen buying for dollars mounted on the back of speculation that Japan’s Government Pension Investment Fund may increase its investments in domestic assets and that the Bank of Japan may accelerate the pace of interest rate hikes. There is a growing view that the GPIF “may review its investment portfolio,” such as increasing yen-denominated domestic assets, an official of a Japanese bank said. The dollar recouped some of its loss later and stood at 156.27-37 yen at noon, still down sharply from 158.69-79 yen at 4 p.m. Wednesday. END [Copyright The Jiji Press, Ltd.]
Dollar Falls below 156 Yen in London Trading
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