The dollar jumped to the highest level against the yen in a week

The dollar jumped to its highest level in more than a week against the Japanese yen today, Wednesday, supported by an increase in the yield on Treasury bonds, amid hopes for a recovery in demand in China with the easing of anti-Covid-19 restrictions. The yen also came under pressure amid more indications from the Bank of Japan that the sudden change in monetary policy last week was not the beginning of a stimulus cut. The dollar rose 0.5 percent to 134.17 yen in Asian transactions, and earlier in the session touched 134.40 yen for the first time since December 20. The Japanese yen also fell against other currencies, as the euro rose 0.51 percent to 142.70 yen, its highest level in a week as well. The Australian dollar jumped 0.62 percent to 90.40 yen, its highest level in a week. The dollar index, which measures the performance of the US currency against a basket of six major currencies, including the yen and the euro, rose 0.1 percent, its highest level in a week, to 104.31, continuing its rise after falling to its lowest level since mid-June at 103.44 on December 14. The euro settled at $1.0636 and has been moving in both directions over the past two weeks, below the six-month high of $1.0737 reached on December 15. The British pound fell 0.15% to $1.2013, as it hovered above this month’s lows of $1.1993 hit on December 22. The Australian dollar rose 0.07% to $0.6738, heading towards the higher end of its trading range reached on December 16.