Dollar-Yen soars to fresh 34-year peak – BoJ’s Ueda warns on weak JPY
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The Dollar-Yen pair reached a fresh 34-year peak at 154.68, the highest since June 1990. The US 10-year Treasury yield rose to 4.63% on strong economic data, including a Manufacturing Index of 15.5 and Weekly Claims for Unemployment Benefits falling to 212K. The Dollar Index (DXY) climbed to 106.15, a 5-month high. The Australian Dollar (AUD/USD) slid to 0.6420 after weak employment data, while the Euro (EUR/USD) dipped to 1.0645 due to dovish comments from ECB officials. Sterling (GBP/USD) eased to 1.2435. Bank of Japan President Kazuo Ueda warned that the central bank may raise interest rates if the Yen's decline significantly increases inflation. The Dollar Index is expected to be closely watched ahead of key Eurozone and US data releases.
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