Dollar Surges, on Cusp of 150 Yen

Dollar Surges, on Cusp of 150 Yen
Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken on June 16, 2022. Florence Lo/Reuters
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TOKYO/LONDON—The euro, pound, and yen all traded at multi-month lows on Tuesday, with the Japanese currency on the brink of weakening past the psychological 150 per dollar level, as surging U.S. Treasury yields kept the dollar firmly on the front foot.

The euro was steady on the day at $1.0477, still around its weakest since early December 2022, after a near-1 percent plunge on Monday when U.S. manufacturing data came in strong and Federal Reserve officials said monetary policy would need to stay restrictive for “some time.”