Yen climbs to highest since February

The Japanese yen has risen to its highest level since February, surpassing the peak reached after the coordinated intervention between Japan and the United States, reaching 154.06 yen per dollar with an increase of up to 1.4%. This movement is supported by expectations of rising interest rates from the Bank of Japan and a possible shift in the allocation of pension fund assets. This increase comes after a retreat in the dollar and amid persistent doubts about the effectiveness of intervention to support the Japanese currency, with a senior Japanese foreign exchange official reaffirming his firm stance on the yen despite the recent rise.

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