The U.S. Dollar Index (DXY) has surged, reaching its highest level since July, marking its 13th consecutive day of gains. This rise has brought the dollar index to 3.5-month highs, having increased 12 of the last 13 days. Additionally, the dollar index is above the 200 DMA for the first time since August 5. The dollar's strength has also impacted the USD/JPY currency pair, with the yen weakening to 150 per dollar for the first time since early August, dropping 0.5% to 150.32 per dollar. Japan's top currency diplomat, Mimura, has expressed concern over the yen's recent movements, describing them as 'one-sided' and stating that the situation is being closely monitored with a high sense of urgency.
Japan’s top currency official warned Friday that he was keeping a close eye on market movements following the yen’s weakening into the 150 range against the dollar overnight. https://t.co/FSPAXWTz4I
Japan top forex diplomat says recent yen moves "one-sided" in fresh warning https://t.co/nslZweOnAi via @Reuters https://t.co/FmKq6AtckR
JAPAN TOP CURRENCY DIPLOMAT MIMURA: CLOSELY WATCHING FX MOVES WITH A HIGH SENSE OF URGENCY