The yen continued its sharp decline today, reaching its lowest level in 15 years against the euro, with repercussions of the Bank of Japan’s insistence on monetary easing continuing to reverberate days after the decision.
Meanwhile, the Australian dollar jumped to a one-week high after the Reserve Bank of Australia surprisingly raised interest rates to 3.85%, signaling that more monetary tightening may come next.
The Australian currency rose 1 percent to just under 67 US cents for the first time since April 25. The euro advanced 0.24% to 151.31 yen, the highest level since September 2008. The dollar rose 0.21% to 137.74 yen. The euro increased 0.1%. against the dollar to $1.0985.
