LONDON—The dollar briefly touched the closely watched 150 level against the yen on Friday, encouraged by a rise in U.S. 10-year Treasury yields towards 5 percent after Federal Reserve Chair Jerome Powell suggested there was scope for more interest rate rises.
The yield on the benchmark 10-year Treasury, which nudged at 5 percent for the first time in 16 years overnight, has risen by 30 basis points this week—marking its biggest weekly rise since April 2022.
