Dollar Borrowing Costs Rise as Euro, Yen Fall

Dollar Borrowing Costs Rise as Euro, Yen Fall
Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound, and Chinese 100 yuan banknotes in this picture illustration on Jan. 21, 2016. Jason Lee/Reuters
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Borrowing costs for U.S. dollars in currency derivatives markets rose sharply on Thursday after the dollar surged to within striking distance of its highest levels in two decades.

The dollar rose past the psychological level of 130 yen on Thursday for the first time since 2002, after the Bank of Japan (BOJ) doubled-down on its super-low yield policy, while the euro briefly fell below another symbolic mark of $1.05.