USD/JPY Near 109 as Markets Buy Fed Guidance

The dollar hit a six-year high against the yen on Thursday after the Federal Reserve’s guidance on interest rates highlighted the diverging pathways between the United States and other rich nations.

The greenback raced to a high of 108.69 yen, its strongest level since September 2008. The dollar last traded at 108.58 yen, up 0.2 percent on the day.

Against a basket of major currencies, the dollar touched a high of 84.814, reaching a high not seen since July 2010, and bringing into view its 2010 peak of 88.708. It last traded at 84.648.

CNBC

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