(Reuters) – The yen hit a new 34-year low against the dollar and a 16-year low against the euro, as investors expect the stance of the Bank of Japan, whose meeting ends tomorrow, not to is sufficiently ‘hawkish’ to support the Japanese currency.
Yesterday, the dollar surpassed the 155 yen level for the first time since 1990, after fluctuating in a narrow range for several days.
During today’s session, the greenback rose to a 34-year high of 155.74 yen and was trading up 0.2% at 10.23am at 155.66. The euro hit a 16-year high at 166.98 and is now up 0.43% at 166.93.
The 155 yen level is seen by some market participants as a dividing line that will push the Tokyo authorities to take action.
The euro gained 0.2% to 1.0721 dollars, while the pound rose by 0.39% to 1.2509 dollars.
The dollar lost 0.22% to 105.628 against a basket of currencies, although it moved away from a near two-week low hit in the previous session.
(Translated by Camilla Borri, editing Antonella Cinelli)
