Dollar Dips, Yen Climbs Amid U.S. Policy Jitters

2025-04-22 05:41:04

(MENAFN) The Japanese yen climbed to the upper 139 range against the U.S. dollar in Tokyo's foreign exchange market on Tuesday, reaching its highest value in roughly seven months.

The yen’s rise followed increasing unease over the direction and autonomy of U.S. monetary policy, sparked by President Donald Trump's criticism of Federal Reserve Chairman Jerome Powell and his renewed push for an early interest rate reduction.

These remarks fueled investor anxiety that political pressure might influence the Fed’s decisions, shaking trust in the strength of the dollar.

By approximately 2:30 p.m. local time, the yen had briefly touched the high 139-per-dollar range, a level not seen since last September.

Adding to the momentum were mounting expectations that the U.S. may urge Japan to take action on the yen’s recent decline during a scheduled meeting between finance ministers later this week.

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