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The solid greenback brings the yen close to 150

02 Oct,2023
The solid greenback brings the yen close to 150

On Monday, the greenback rose on expectations that U.S. interest rates would maintain its rate hike for extended period, while the yen declined approaching 150 per dollar and nearly a one-year low, alerting speculators to potential government intervention from Japan.

The dollar index climbed back up to its most recent 10-month high of 106.84 and was last at 106.51, posting its best quarterly performance in a year as a result of the Fed's constantly hawkish stance

EUR/USD dipped 0.4% at $1.0535, post wrapping up the earlier quarter with a 3% slump, its weakest performance in a year, as the currency market reflects the relative differences between the American and European economies.

GBP/USD dipped 0.4% at $1.2158, having lost value versus the dollar by around 4% in Q3.

USD/JPY dipped to 149.83 per dollar, gearing towards the 150 level, which some traders fear could trigger Tokyo's intervention to stabilize the currency, the yen is at its worst in more than 11 months.

 

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