US dollar touches 150 level against yen ‎

On Friday, the dollar briefly touched the 150 level against the closely watched yen, supported by the rise in 10-year US Treasury bond yields towards 5%, after Federal Reserve Chairman Jerome Powell indicated that there was room to carry out more operations. Raising interest rates…

According to Reuters, the yield on ten-year US Treasury bonds, which touched five percent for the first time in 16 years overnight, rose by 30 basis points this week, constituting the largest weekly increase seen since April 2022.

The war in the Middle East pushed investors to safe-haven assets such as gold and the Swiss franc, but interest rates dominated trading trends in Treasury bonds.

However, this did not provide similar support to the dollar this week, which achieved only marginal gains without clinging to the 150 level against the yen, which is the point at which many market participants believe that the Japanese Ministry of Finance could intervene to support the currency. ‎

After the dollar rose against the yen by as much as 0.14% on Friday to 150, it fell to settle at 149.870, and this exchange rate usually tends to track the movements of ten-year Treasury bond yields.

On the other hand, the British pound fell by up to 0.37% to record its lowest level in two weeks after a series of data showed the collapse of British consumer confidence in October after recording weak retail sales in the previous month.

The British pound fell in recent trading by 0.2 percent to $1.2116.

The euro stabilized at $1.0572, while the Swiss franc, which was popular as a safe haven, tended to record the largest weekly gain against the dollar in 3 months, rising by one percent.