Dollar Hits Two-Decade High Against Yen – 19 April, 2022

The dollar climbed to a twenty year peak against the yen supported by Federal Reserve officials pushing for sizable interest rate hikes, while the Bank of Japan continued to defend its ultra-low rate policy. The dollar hit 129.43 yen for the first time since April 2002 before last trading 0.3% higher at 129.295. Against a basket of six major currencies including the yen, the greenback was slightly higher at 101.01. The greenback touched 0.95305 franc for the first time since June 2020 before changing hands 0.06% stronger at 0.95275. The euro traded flat at $1.0788, staying not far from last week’s low of $1.0758, the weakest in about two years. The Chinese yuan hit its weakest level since October 2021 at 6.4115 to the dollar.