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The dollar hit the symbolic level of 150 yen on Thursday as the greenback was supported by Treasury yields trading at multi-year highs, keeping markets on high alert for any signs of an intervention from Japanese authorities.
Moves among other majors were more muted with the euro at $0.97835 and sterling at $1.1217, both failing to regain ground on the dollar, after tumbling the day before.
The fragile yen briefly weakened past 150 per dollar in early European trading for the first time since August 1990. It was last trading flat a little below that level.
It has been on a losing streak for 11 straight sessions as of Wednesday’s close, and has renewed 32-year lows for six sessions now.
„It’s a big psychological level that could trigger intervention … people have been anticipating intervention for a while,“ said Sim Moh Siong, currency strategist at Bank of Singapore.
