Nikkei falls to 1-1/2-week low on strong yen before Fed meeting

lunes 25 de julio de 2016 22:01 GYT

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By Ayai Tomisawa

TOKYO, July 26 (Reuters) - Japan's Nikkei share average dropped on Tuesday morning to a 1-1/2-week low as Wall Street languished and the dollar fell against the yen ahead of the U.S. Federal Reserve's two-day policy meeting, hurting exporter shares.

The Nikkei fell 1.3 percent to 16,400.47 in mid-morning trade, after falling to as low as 16,344.34, the lowest level since July 14.

Exporters were sold after the dollar slipped 0.9 percent against the yen to 104.87, with Toyota Motor Corp shedding 1.5 percent and Honda Motor Co sliding 1.7 percent.

Traders said that uncertainty over the Bank Of Japan's policy decision at its two-day meeting starting Thursday is making investors risk averse.

"As expectations for helicopter money waned while there are limited actions left from the BOJ," said Nobuhiko Kuramochi, a chief strategist and economist at Mizuho Securities.   Continuación...