Nikkei Falls to 2-1/2 Week Lows on Strong Yen

Japan’s Nikkei share average fell to 2-1/2 week lows on Monday as the yen strengthened and as financial stocks dropped on lower U.S. yields. The Nikkei was down 1.4 percent at 19,012.43 points by midmorning, after falling to as low as 18,995.55, its weakest level since Feb. 9. Exporters lost ground as the dollar dropped to as low as 111.925 yen on Friday, its first foray below the 112 level since Feb. 9. During Asian trade on Monday, the dollar slipped a further 0.2 percent to 112.00 on worries that U.S. President Donald Trump’s first major policy address to Congress on Tuesday will not offer many new details on his tax reform or spending pledges.