The yen continues to decline against USD and Pound clings to its early gains

The Japanese yen, sensitive to interest rate moves, continued to decline on Tuesday, breaking the 142 barrier against the dollar, while the pound and the euro tried to recover from multi-year lows against the dollar the day before, but the euro failed to do so.

The dollar rose 1.07 percent against the yen to 142.1, a new 24-year high. The dollar has risen 23 percent against the Japanese currency so far this year.

US 10-year Treasury yields rose 3.2557 percent, from Friday’s close of 3.191 percent. US markets were closed on Monday for the Labor Day holiday.

And both the pound sterling and the euro rose by more than 0.6 percent against the dollar in morning trading in Europe. Although the pound managed to cling to this trend somewhat, rising 0.35 percent at $1.1564, the euro fell to remain unchanged on Tuesday at $0.99205, slightly above its 20-year low hit the day before.

On Monday, Reuters reported that Britain’s new Prime Minister Liz Truss is considering freezing household energy bills in an attempt to avert the winter cost-of-living crisis for millions of families.

It is scheduled to meet European Union ministers on the ninth of September to discuss urgent measures at the level of the bloc to discuss how to confront the rise in gas and energy prices, which harms the industry in Europe and burdens families with expensive bills, after Russia stopped gas shipments to the EU countries.