Dollar hits 135 yen as U.S. yields climb ever higher

Published by
Reuters UK

By Alun John HONG KONG (Reuters) – The yen fell to a fresh 20-year low against the dollar on Monday, as red hot U.S. inflation data drove up Treasury yields, diminishing the earlier boost from speculation Japanese authorities could intervene to support the currency. Central banks’ efforts to raise interest rates to curtail inflation will remain in focus this week. The Federal Reserve and the Bank of England are expected to raise rates at their meetings and there is a chance the Swiss National Bank will also hike, but little change is expected from the Bank of Japan. The dollar climbed 0.43% on…

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