The Japanese yen continues to decline in the middle of the trading session of the European session today, Tuesday, April 19th, recording new lows against the US dollar, as it trades at 128.30 levels, the lowest level for the Japanese yen since April 2002, ignoring the gains of the US dollar and taking advantage of the statements of the Governor of the Central Bank of Japan Kuroda at the beginning of the week .

Kuroda had expressed his view on the decline of the Japanese yen and its impact on the Japanese economy at the beginning of the week, noting that the weakness of the Japanese yen is positive as a general picture of the Japanese economy despite some negative effects.

Since the beginning of last March, the Japanese yen has been affected by the difference in monetary policy between the Central Bank of Japan and the US Federal Reserve with regard to monetary policy and the start of monetary policy tightening from the Federal Reserve, and vice versa, the Bank of Japan continues to facilitate monetary policy.

The Ministry of Finance, through the words of Japanese Finance Minister Suzuki this morning, Tuesday, in a press conference, expressed their concerns about the continued weakness of the Japanese yen, which could have greater negatives and outweigh the positives if the rapid decline of the yen continues.

In terms of economic data today, Tuesday, the markets will monitor the movements of the bond markets and the yield on US Treasury bonds, in addition to the unscheduled statements of the Fed members, amid the absence of the economic agenda for the second consecutive session, with the exception of home sales that will be issued in the American session.

The yield on US Treasuries supports the US dollar’s gains since the beginning of the week, as the yield on the ten-year Treasury bonds is trading at a rise of about 1% at 2.89% this morning.

The general index of the US dollar is trading at 100.84 levels, stable compared to the opening prices, after an increase of about 0.26% yesterday, Monday, while the euro continues to trade at its lowest level since May 2020 below 1.0800 levels.