Dollar hits 1-year high against yen, topping 151
The U.S. dollar continued to climb against the yen on Tuesday in New York, topping the 151 line, a level last seen a year ago, while the euro stayed in the 160-yen range, a 15-year high.
The plunges in the yen’s value show that the Bank of Japan’s announcement of a tweak to its yield cap policy had a limited impact on investors’ drive to sell the yen against other major currencies.
The dollar briefly reached 151.74 yen in New York. In October last year, Japanese authorities conducted a yen-buying, dollar-selling market intervention after the U.S. currency hit 151.94 yen, a then 32-year high.