Dollar Surges as Yen Falls Past 158 Amid Safe-Haven Demand

The US dollar has strengthened due to safe-haven demand and rising Treasury yields. The Japanese yen, on the other hand, has slid past the 158 level against the dollar despite suspected intervention by Japanese authorities.

The dollar's index rose as investors sought refuge amid ongoing geopolitical tensions and uncertainty over global economic growth. At the same time, US Treasury yields climbed to around 4.5%, making dollar-denominated assets more attractive to yield-seeking investors.

Japan's Ministry of Finance has declined to comment on whether it intervened in the yen's slide, but officials have repeatedly warned that they are watching currency moves with a high sense of urgency and stand ready to act against excessive volatility.