US Dollar Edges Higher, Japanese Yen Retreats to Multi-Decade Low

Deep News03:50

The US dollar strengthened modestly, with the yen falling back to its lowest level since 1986, as rising US Treasury yields and elevated oil prices due to US-Iran tensions provided support.

The Bloomberg Dollar Spot Index climbed approximately 0.2%, hovering near its daily high after advancing during the US trading session.

Yields on 10-year and 30-year US Treasury bonds reached two-month highs, driven by concerns that surging oil prices could reignite inflationary pressures and influence the Federal Reserve's policy stance.

The USD/JPY pair rose 0.4% to 163.19, pushing the dollar's value against the yen back to its highest point since 1986.

The USD/CAD pair increased 0.2% to 1.4103.

Canadian Prime Minister Mark Carney stated that he and US President Donald Trump have agreed to accelerate trade negotiations ahead of potential US tariffs of up to 50% on a range of Canadian goods, which could be imposed next month.

The GBP/USD pair declined 0.4% to 1.3378.

The EUR/USD pair fell 0.1% to 1.1399, marking its fourth consecutive day of losses.

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