Currency Buzz: Dollar Hits Two Decade High On Yen

28 Apr 2022 , 10:44 AM

The US dollar surged to its highest level in 20 years against the Japanese yen on Thursday, after the Bank of Japan kept benchmark monetary settings unchanged by offering to buy endless amounts of bonds every session as needed, at a time when other major economies are tightening. On the other hand, concerns of Fed taking an aggressive stance on policy and worries of economic slowdown in China kept US treasury yields higher strengthening the dollar. As measured against a basket of currencies, the dollar index had reached a five-year top of 103.41 and a further push above 103.82 would see it to levels not visited since late 2002. Meanwhile, USD/JPY pair hit 129.90 levels, the pair has not seen since 2002.

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