Inflation in the United States pushed up Treasury yields, sending the yen to a 24-year low on Monday against the dollar, reducing the support it received from speculation that the Japanese authorities may intervene to support the currency.
According to Arabiya Net, the dollar rose against the yen by 0.43% today to 135 yen, its highest level in 24 years, and approached its highest level since 1998 at 135.20.
The yen rose briefly late Friday night when the government and Japan's central bank said they were concerned about recent sharp declines in a rare joint statement that was seen as the strongest warning yet of a possible Tokyo intervention to prop up the yen.
The benchmark 10-year US Treasury yield touched 3.2% on Monday morning, after rising nearly 12 basis points on Friday after US inflation exceeded expectations, prompting bets that the Federal Reserve will have to raise interest rates significantly. More powerful.
