Yen wallows at 40-year low as dollar rally gets yield boost

The Japanese yen has touched its lowest level in four decades as the U.S. dollar continues to rally. According to Channel NewsAsia, the dollar's strength is being fueled by higher U.S. Treasury yields, which make dollar-denominated investments more attractive to global investors. With the Bank of Japan maintaining an ultra-loose monetary policy, the widening interest-rate gap between the two countries continues to favor the dollar.

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