The greenback traded over 150 yen for the sixth consecutive day on Tuesday, despite China's primary borrowing rate being lowered, the yuan ignored it as investors became less confident that Japan's ultra-low rates would last given the country's current recession.

Since losing ground against the dollar on February 13th, the yen has lost 7% of its value in 2024 alone. Historically, traders have seen 150 as a potential tipping point for intervention by the Ministry of Finance and the Bank of Japan, as seen in late 2022.

This time, the shift has been more measured and the volatility has been low, indicating that neither the Japanese government nor currency dealers are now showing any signs of concern.

The dollar index that gauges the greenback versus its major pairs plunged by 0.15% to 104.13.

EUR/USD ticked up by 0.1% to $1.07985.

GBP/USD muted at $1.2598 against the dollar.