Agencies-Gaza post
Dollar at 20-year highs against yen
The dollar climbed to two-week highs supported by higher U.S. bond yields pushing the Japanese yen to more than 20-year lows against the dollar.
The yen fell to 133 yen against the dollar, a level previously highlighted as an inevitable level of intervention, a day after Central Bank of Japan Governor Haruhiko Kuroda reaffirmed his full responsibility for a “strong” economic stimulus.
Yen is sensitive to interest distinctions between Japanese and American bonds.
The dollar index, which measures its value against six main currencies including the yen, rose as much as 0.39%, resuming its rise on Monday of 0.26%, marking its highest since May 23.
The euro fell 0.12 percent to $1.06825 ahead of the European Central Bank’s policy-making meeting on Thursday, as it is anticipated to announce an end to bond purchases paving the way for an 11-year rate hike at the July meeting.
Sterling fell to a near three-week low of $1.2433, as Prime Minister Boris Johnson’s political tension worried investors.
Johnson won a confidence vote late on Monday by 211 votes to 148, enough to avoid having to resign immediately, but a larger-than-expected rebellion within his party leaves him in political despair and struggling to regain the confidence of his colleagues and the public.
The Chinese yuan fell back from its month-long high against the dollar due to a general rise in the US currency, while some investors await the pace of economic recovery after Shanghai lifted lockdown steps to contain COVID-19.
With regard to cryptocurrencies, bitcoin fell 5.8% to $29,527, expanding its gain of 4.89% on Monday.
