Yen Falls to Key 150 Level After Solid US Retail, Labor Data
- Dollar rises against peers as traders pare back Fed cut bets
- Japanese currency’s decline highlights risk of intervention
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The yen fell below the psychological mark of 150 per dollar after robust US economic data led traders to dial back bets on Federal Reserve interest-rate cuts, boosting the greenback.
The currency dropped by 0.4% to end Thursday at 150.21 per dollar, the weakest closing level since July 30. The latest decline follows two straight weeks of drops for the yen as investors re-calibrated a slower narrowing of the yield gap between Japan and the US.