Reuters
Nothing stops yen slide, falls to fresh 20 year low
The Japanese yen hit a 20-year low against the dollar on Tuesday, supported by high U.S. Treasury yields and likely comparatively good U.S. economic data this week. The dollar rose 0.37% on the yen to 127.44 yen in early trade, its highest level since May 2002. “I think the broad dollar trend reflects U.S. economic outperformance, while we’ve seen some initial impacts of higher energy prices from the Ukraine war elsewhere, especially in the euro zone,” said Carol Kong, FX strategist at Commonwealth Bank of Australia.
