Dollar Touches 1-week High Versus Yen Thanks to Rise in Bond Yields

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken on Sept. 23, 2022. Florence Lo/Reuters

LONDON/TOKYO—The dollar touched its highest in over a week against the yen on Wednesday, boosted by a jump in Treasury yields and by anticipation among investors of a rebound in Chinese growth as COVID-19 curbs loosen.

The yen also came under pressure after the Bank of Japan signaled that a surprise policy shift last week did not mark the start of a broader withdrawal of monetary stimulus.