Dollar rises above ¥133, highest in 20 years

Tuesday, 07. June 2022 08:48

The US dollar rose on Tuesday to its highest level against the Japanese yen in over two decades, selling for ¥133.0030 at 8:15 am CET. The Japanese currency's loss against the dollar comes as the gap between Japanese and US yields widens, and Bank of Japan (BoJ) Governor Haruhiko Kuroda vowed to continue monetary easing.

Japanese investors and consumers have taken notice of the negative impact of the yen's weakness as energy and supply costs have skyrocketed. Japanese yields are near zero, while US Treasury yields recently increased as the Federal Reserve reaffirmed it would hike interest rates aggressively.

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Author:
Baha Breaking News (BBN) / JG