The U.S. dollar remained strong in the lower 154 yen range early Tuesday in Tokyo after hitting a fresh 34-year high overnight, as hotter-than-expected U.S. retail sales data reinforced bets that the Federal Reserve will keep interest rates elevated for longer than projected.
At 9 a.m., the dollar fetched 154.21-24 yen compared with 154.22-32 yen in New York and 153.90-91 yen in Tokyo at 5 p.m. Monday.
The euro was quoted at $1.0623-0627 and 163.82-91 yen against $1.0620-0630 and 163.79-89 yen in New York, and $1.0657-0658 and 164.02-06 yen in Tokyo late Monday afternoon.
Tokyo stocks opened sharply lower, weighed down by continued tensions in the Middle East and overnight losses on Wall Street.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 585.38 points, or 1.49 percent, from Monday to 38,647.42. The broader Topix index was down 28.16 points, or 1.02 percent, at 2,725.04.
On the top-tier Prime Market, decliners were led by insurance, oil and coal product, and securities house shares.
