Yen Surges Past Key Level, Targets Strongest Point This Year

The yen has surged past a key level of 155 per dollar, putting its strongest level this year within reach. On Tuesday, Japan's currency rose as much as 0.4% to 153.80 after rallying 1.2% overnight. This brings the yen's monthly gains to almost 4%, making it the top performer among Group-of-10 currencies.

The break through 155 per dollar triggered stop-loss orders, according to Bloomberg data. The yen is now firmly in traders' sights as they target the 152 area.