The US Dollar gained momentum following a hawkish policy update from the Federal Reserve under new Chair Kevin Warsh, pushing the Dollar Index back above the 100.00 mark, according to FX Street.
On Thursday, the USD/JPY pair traded around 160.85, rising 0.12% on the day after briefly reaching 160.95, its highest level since July 2024, FX Street reported. This marks a notable strengthening of the Dollar against the Japanese Yen amid ongoing market adjustments to Fed policy signals.
For Japanese investors, the sharp rise in USD/JPY highlights the continued sensitivity of the yen to US monetary policy, underscoring the importance of closely monitoring global central bank moves in the current volatile environment.