Inflation Worries Push Dollar to 20 year High Against Yen – 6 June, 2022

The dollar hit two-decade highs against the yen as worries about persistent inflation pushed up U.S. bond yields. The Aussie weakened 0.15% to $0.7183, continuing its retreat from a six-week peak at $0.72825 reached last Friday. The greenback was as high as 132.305 yen, a level not seen since April 2022, buoyed by the 10-year Treasury yield’s rise to 3.05% for the first time in nearly four weeks. The currency pair last traded 0.17% higher at 132.12. Against a basket of six major currencies, the dollar index was up 0.4% to 102.51, adding to Mondays 0.26% advance. The euro slipped 0.09% to $1.0686 ahead of the European Central Bank’s rate-setting meeting on Thursday. Sterling edged 0.04% lower to $1.2523. It gained 0.29% in the previous session, as Prime Minister Boris Johnson survived a vote of no confidence but was left weakened.In