{"id":64595,"date":"2022-04-28T15:28:07","date_gmt":"2022-04-28T11:28:07","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=64595"},"modified":"2022-04-28T15:28:09","modified_gmt":"2022-04-28T11:28:09","slug":"the-yen-falls-to-its-lowest-level-in-20-years-and-pressure-on-the-euro-increases","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/the-yen-falls-to-its-lowest-level-in-20-years-and-pressure-on-the-euro-increases\/04\/28\/market-updates\/","title":{"rendered":"The yen falls to its lowest level in 20 years and pressure on the euro increases"},"content":{"rendered":"\n<p>The dollar rose against the yen above 130 yen on Thursday for the first time since 2002, after the Bank of Japan maintained its commitment to ultra-loose monetary policy, while the euro briefly fell below $1.05.<\/p>\n\n\n\n<p>There was some speculation in the market that the BoJ might pull back a bit given the increasing pressure in the foreign exchange markets, but it showed no hesitation.<\/p>\n\n\n\n<p>&#8220;The BOJ gave the &#8216;permission&#8217; to continue selling the yen,&#8221; said Lee Hardman, currency analyst at MUFG Bank in London.<\/p>\n\n\n\n<p>The massive selling triggered by the Bank of Japan sent the dollar up against the yen to 131 yen, the highest level in 20 years.<\/p>\n\n\n\n<p>Other Asian currencies were also pressured. The dollar reached 6.6562 yuan, against the Chinese yuan trading offshore, the highest level since November 2020.<\/p>\n\n\n\n<p>Meanwhile, the euro fell and briefly touched a more than five-year low at $1.0481, taking its losses for the month to five percent, its worst drop since early 2015.<\/p>\n\n\n\n<p>Expectations are now rising that the single currency is on its way to par with the dollar, a level not reached since 2002.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The dollar rose against the yen above 130 yen on Thursday for the first time since 2002, after the Bank of Japan maintained its commitment to ultra-loose monetary policy, while the euro briefly fell below $1.05. There was some speculation in the market that the BoJ might pull back a bit given the increasing pressure &hellip;<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6827,49,36],"tags":[7211,6877,6928,6882],"class_list":["post-64595","post","type-post","status-publish","format-standard","","category-daily-economic-reports","category-economic-reports","category-market-updates","tag-currencies","tag-dollar","tag-euro","tag-forex"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/64595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=64595"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/64595\/revisions"}],"predecessor-version":[{"id":64596,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/64595\/revisions\/64596"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=64595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=64595"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=64595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}