The USD/JPY exchange rate has reached its highest level in 34 years, surpassing the 152 mark and touching a peak of 153, influenced by a hotter-than-expected US CPI number. This significant movement has sparked discussions on potential interventions by the Bank of Japan (BOJ), with speculation about Japan's stance on defending the yen at these levels. The rise to 152.58 and then above 153 marks a notable shift, as the yen had previously seen 152 as a ceiling. This development is seen as a reaction to inflation numbers in the US, suggesting a possible policy response from the BOJ, including interventions or rate hikes.
Dollar hits 34-year high against yen https://t.co/ieSRb1vvGY
Dollar firm in upper 152 yen after hitting 34-yr high https://t.co/huMnTuwL52
DOLLAR/YEN RISES ABOVE 153 TO HIGHEST SINCE JULY 1990, LAST UP 0.87%
$/JPY hits new 34 year 152.75+ #alltimehighs in the wake of today's US CPI number... https://t.co/QRFmIXoqfu
Last night there was speculation that Japan would give up on defending Y152/$ in the event of a hot US CPI number, and instead try to draw the line at Y153. It looks like that's about to be put to the test: https://t.co/bcnWTippre
USD/JPY RISES 0.5% TO 152.58
This #inflation number is being felt far afield - it's taken the yen through the 152/$ level that had been acting as a ceiling. Rather than try to intervene the Japanese authorities might prefer not to stand in the way of an oncoming train: https://t.co/kNxi9QsQFK
#USDJPY highest since July 1990! hotter-than-expected #US CPI will likely end up forcing #BOJ to intervene or hike rates : )
#USDJPY highest since July 1990! hotter-than-expected #US CPI will likely end up forcing #BOJ to intervene
$USDJPY > 152, the highest level in the last 34 years. https://t.co/6exJN49CKa
$USDJPY > 152 https://t.co/6exJN49CKa