Dollar at New Low Against Yen

The dollar hit a new low against the Japanese yen today, and top business leaders called emergency meetings to plot strategy to keep Japan’s export earnings from being squeezed even tighter.

The dollar closed at 146.20 yen, down 2.80 from the Friday closing, after falling as low as 144.70. Today’s closing was 2.60 yen below last Tuesday’s final listing of 148.80, which had been the lowest since modern exchange rates were set in the late 1940s after World War II.