Xinhua world economic news summary at 0900 GMT, April 29
TOKYO -- The Japanese yen briefly dropped to a new 34-year low in the 160 level against the U.S. dollar on foreign exchange markets on Monday morning.
It marked the first time since April 1990 that the U.S. dollar has topped the 160 yen line. Monday is a national holiday in Japan, but trading remained very volatile as the Japanese currency began reversing its trajectory in the afternoon, strengthening to the 155