Yen Dips To Six Year Low – 23 March, 2022

The U.S. dollar was supported in Asian trading as commodity currencies took a breather from a steep rally driven by rising prices for exports. The Australian and New Zealand dollars were hovering just below multi-month peaks, with Aussie holding at $0.7494 after reaching $0.75 overnight, while the kiwi was 0.2% softer at $0.6960. The euro stabilized at $1.0989 after an overnight drop and sterling was softer at $1.3187. The yen reached a six year low of 121.41 per dollar as investors expect the Bank of Japan to lag way behind policy tightening by other major central banks fighting inflation.