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The dollar rises to its highest against the yen

Adel 11 July, 2022 1:51 pm Daily Economic Reports, Economic Report, Market Update

The dollar rose to a 24-year high against the yen on Monday after good results from Japan’s ruling conservative alliance signaled no change in loose monetary policies and global growth concerns boosted the dollar as a safe haven on a broader scale.

The dollar rose to 137.28 yen in morning trading, the highest level since late 1998. Then the dollar pared these gains slightly, and rose 0.6 percent to 136.93.

The dollar also rose against the euro, which fell 0.38 percent to $ 1.0144, heading again towards its lowest level in 20 years, which was recorded during trading on Friday, leaving the dollar index up 0.4 percent at 107.3.

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