Business News: Japan’s Nikkei falls 3.5% as yen strengthensvvvv


Japan’s benchmark Nikkei 225 finished Monday’s session down 3.5% at 16,019.18 as a rise in the value of the yen hurt big exporting companies such as Toyota.Investors remained cautious ahead of meetings later this week by the US Federal Reserve and the Bank of Japan, although no rate cuts are expected.Uncertainty over the UK’s EU referendum is also affecting the markets.The yen is often regarded as a haven in times of uncertainty, and the dollar weakened to below 106 yen.Shares in Toyota closed down by more than 3.5%, Honda’s shares were 4% lower, while Nissan’s fell by 4%.The Nikkei’s close on Monday marks a five-week low and the third straight session of losses.