Yen Hits Strongest Level Since February, Up 1.4% Against Dollar
By Aboki Forex —
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.