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Tokyo, June 18 (QNA) – The US dollar clung to a more than two-month high on Thursday as markets reinforced expectations that the Federal Reserve will raise interest rates this year, weakening the Japanese yen and pushing it toward intervention territory.
The euro last traded a shade stronger at $1.1511 and sterling strengthened to $1.3318 , after touching their two-month lows earlier.
The risk-sensitive Australian dollar and the New Zealand dollar were up 0.2% at $0.7025 and $0.5780, respectively.
The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, was little changed at 100.31.
It surged 0.85% to the strongest level since March 31 in the previous session, its biggest single-day jump in over three months.
The Japanese yen weakened to as much as 160.760 after hitting its weakest since 2024 overnight, wiping out gains made after Tokyo’s intervention on April 30. (QNA)
