Yen Hits Strongest Level Since February, Up 1.4% Against Dollar

By —

The yen strengthened to its highest level since February, climbing as much as 1.4 per cent to 154.06 against the dollar in London trading. The move pushed the Japanese currency past the peak it reached after coordinated intervention by Japan and the United States.

Market Movers

Geoff Yu, senior strategist at BNY, said some deterrence has been established at 160 per dollar. His comment points to growing market confidence that Japanese authorities are ready to act against further weakness in the currency.

What It Means

The latest gain shows how intervention signals and shifting rate expectations can quickly reshape currency markets. For Nigerian businesses tracking global forex trends, the yen's strength is another reminder that major currencies remain highly sensitive to policy moves.

Forex News

NARD gives FG two weeks to avert nationwide strike
ABOKI FOREX
FG sets September 2028 deadline to end regulated gas pricing
ABOKI FOREX
Ecobank Targets $2.6bn Loan Book for Women Businesses and Agricultural SMEs by 2030
ABOKI FOREX
Air Peace Explains Abuja-Maiduguri Flight Cancellation After Fuel Shortage, Maiduguri Restrictions
ABOKI FOREX
Onion Prices Jump 233% in Lagos as Floods, Transport Costs Bite
ABOKI FOREX
Unverified X post drags Nduka Obaigbena and Ojy Okpe into online discussion
ABOKI FOREX
Petrol Imports Fall 26% as Dangote Supplies 71% of Fuel Received in August
ABOKI FOREX
Telecoms Are Reshaping Nigerian Healthcare, From Remote Surgery to Maternal Care
ABOKI FOREX
Saudia Sets December 1, 2026 Date for Direct Abuja-Jeddah Flights
ABOKI FOREX
Depot Petrol, Diesel Prices Fall in Lagos, Warri, Port Harcourt and Calabar
ABOKI FOREX