Dollar Hits New High Against Yen After Fed Chief's Hawkish Speech

The US dollar traded in the lower 160 yen range in Tokyo early Monday after Federal Reserve chief Kevin Warsh's speech, which left the door open for a potential interest rate hike.

The dollar fetched 160.12-13 yen at 9 am, compared to 159.92-160.02 yen in New York and 159.50-51 yen in Tokyo at 5 pm Friday.

The euro was quoted at $1.1589-1589 and 185.55-56 yen against $1.1577-1587 and 185.36-46 yen in New York and $1.1646-1647 and 185.76-80 yen in Tokyo late Friday afternoon.

The stock market fell, with the Nikkei Stock Average shedding 1,376.88 points, or 2.07 percent, from Friday to 65,028.68 in the first 15 minutes of trading.