For some reason, I forgot to take a look at how the U.S. dollar is faring against the Japanese yen at the beginning of the month.
That is now being rectified as here's what has been happening during the past 24 hours.
According to Reuters:
NEW YORK, April 23 (Reuters) - The yen dropped to multi-year lows against the U.S. dollar and euro on Tuesday, keeping investors on heightened Japanese intervention watch ahead of this week's Bank of Japan policy meeting.
The euro reached 165.71 yen, its highest since 2008, after data showed business activity in the euro zone expanded at its fastest pace in nearly a year, primarily due to a recovery in services. Europe's common currency was last up 0.4% at 165.67 yen .
The dollar rose as high as 154.88 against the yen , a 34-year peak and edging closer to 155, a level seen by market participants as the new trigger for Japanese intervention.
The greenback was last little changed on the day at 154.79 yen.
To read more, go here.
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