Yen slides as Japan sticks to economic targets

Tokyo

THE yen slid to a four-month low against the US dollar yesterday, as market conviction grew that the Japanese currency could be headed significantly lower in coming weeks as the Bank of Japan (BOJ) goes all out to meet its inflation target and Prime Minister Shinzo Abe's government strives to meet politically important economic growth targets.

The yen hit 101.36 to the dollar in Tokyo - close to the 101.54 level it sank to in July in the wake of the BOJ's dramatic monetary easing assault, while dropping to a four-year low against the euro, at 136.54, and giving ground against the pound as well.