The dollar jumped to its highest level in more than a week against the Japanese yen today, Wednesday, supported by the increase in the yield on Treasury bonds, amid hopes for a recovery in demand in China with the easing of anti-Covid-19 restrictions.
The yen also came under pressure amid more indications from the Bank of Japan that the sudden change in monetary policy last week was not the beginning of a stimulus cut.
The dollar increased 0.5% to 134.17 yen in Asian transactions, and touched 134.40 yen earlier in the session for the first time since December 20, before trimming some of its gains.
The Japanese yen also recorded a decrease against other currencies, as the euro increased 0.51% to 142.70 yen, the highest level in a week as well, and the Australian dollar jumped 0.62% to 90.40 yen;
Recording the highest level in a week.
The dollar index (which measures the performance of the US currency against a basket of 6 major currencies, including the yen and the euro) rose 0.1% - the highest level in a week - to 104.31 points, continuing its rise after falling to its lowest level since mid-June last at 103.44 points in 14 this December.
The euro settled at $1.0636, and has been moving in both directions over the past two weeks, at a rate lower than its highest level in 6 months at $1.0737, which it reached on December 15.
The pound sterling fell 0.15% to $1.2013;
It has been hovering above its lowest level this month at $1.1993, which it recorded on December 22.
The Australian dollar also rose 0.07% to $0.6738, heading towards the higher end of its trading range that it reached on December 16.